I.M. Skaugen SE and its subsidiaries filed for a moratorium in the Singapore Court to reorganize liabilities and businesses. The moratorium provides protection from creditors' claims for 30 days, with plans to extend it. The company is transitioning from LPG/Petrochemicals transportation to LNG distribution. A restructuring plan is in place, supported by stakeholders, and involves a scheme of arrangement. The company is in discussions with a white knight investor for financial support. Legal proceedings are ongoing against Teekay and MAN Diesel & Turbo. The announcement includes details of the restructuring plan and the scheme of arrangement process in Singapore.
documents/EFTA00798001.pdf
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