KUALA LUMPUR, March 17 (Reuters) - The Malaysian Ex
KUALA LUMPUR, March 17 (Reuters) – The Malaysian Excessive Courtroom on Wednesday granted funds airline AirAsia X Bhd AIRX.KL a three-month restraining order towards any authorized proceedings that could be filed towards it, which might have slowed down its debt restructuring course of.
“The restraining order permits the collectors a possibility for amicable deliberation on the proposed debt restructuring with out extraneous concerns,” a submitting on the bourse mentioned.
AirAsia X, the long-haul affiliate of AirAsia Group Bhd AIRA.KL, utilized for a restraining order in December, which can serve to restrain any authorized proceedings to be initiated towards it.
The airline has been attempting for months to restructure 64.15 billion ringgit ($15.57 billion) of debt into 200 million ringgit of debt.
Greater than a dozen collectors have filed to intervene in its proposed court-supervised restructuring, with lessor BOC Aviation Ltd 2588.HK and airport operator Malaysia Airports Holdings Bhd MAHB.KL arguing that AAX is “hopelessly bancrupt”.
The courtroom final month ordered the airline to convene separate conferences with its completely different teams of collectors inside six months.
($1 = 4.1190 ringgit)
(Reporting by Liz Lee; Modifying by Jan Harvey)
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