Malaysia’s High Court restraints creditors from pursuing AirAsia X Bhd for another 9 months

In a stock exchange filing, AirAsia X Bhd said, the Malaysian high court has granted it a nine-month extension on a restraining order preventing creditors from filing any legal proceedings against it.

Earlier this year in March, the Malaysian high court had granted a restraining order for three months, following the budget airline undergoing a restructuring of its $15.5 billion (64.15 billion ringgit) debt.

Earlier this month, AirAsia X’s shareholders approved its debt restructuring, allowing it to pursue a scheme it viewed as key to survival which includes a rights issue and a share subscription for new investors to raise 500 million ringgit.

($1 = 4.1390 ringgit)

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

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