Collectors cannot sue AirAsia X for one more 9 months, says Malaysia court docket By Reuters
© Reuters. FILE PHOTO: Tail of AirAsia X aircraft as seen on the Garuda Upkeep Facility AeroAsia in Tangerang, Indonesia, September 20, 2017. REUTERS/Beawiharta/File Photograph
KUALA LUMPUR (Reuters) – The Malaysian excessive court docket has granted AirAsia X Bhd a nine-month extension on a restraining order which prevents collectors from submitting any authorized proceedings towards it, the airline mentioned in a inventory alternate submitting.
The submitting on Thursday mentioned the extension runs 9 months from the day of the announcement.
The court docket had granted a restraining order in March for 3 months, because the funds airline undergoes a restructuring of its 64.15 billion ringgit ($15.5 billion) debt.
Earlier this month, AirAsia X shareholders authorised its debt restructuring, permitting it to pursue a scheme it considered as key to survival which features a rights difficulty and a share subscription for brand spanking new buyers to boost 500 million ringgit.
($1 = 4.1390 ringgit)
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