Creditors can't sue AirAsia X for another 9 months, says Malaysia court
Reuters
June 18, 2021 15:06 MYT
June 18, 2021 15:06 MYT
The court had granted a restraining order in March for three months, as the budget airline undergoes a restructuring of its RM64.15 billion debt. BERNAMApic
KUALA LUMPUR: The Malaysian high court has granted AirAsia X Bhd a nine-month extension on a restraining order which prevents creditors from filing any legal proceedings against it, the airline said in a stock exchange filing.
The filing on Thursday said the extension runs nine months from the day of the announcement.
The court had granted a restraining order in March for three months, as the budget airline undergoes a restructuring of its 64.15 billion ringgit ($15.5 billion) debt.
Earlier this month, AirAsia X 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.