September 30, 2016 / 3:26 PM / 10 months ago

BRIEF-Pacific Andes Resources Development updates on restructuring process

1 Min Read

Sept 30 (Reuters) - Pacific Andes Resources Development Limited

* (Update On Restructuring Process)

* On 29 september 2016 it has filed a voluntary petition for relief under chapter 11 of united states bankruptcy code.

* "this has left company with no realistic option but to instruct its lawyers to withdraw from singapore proceedings"

* "PARD has obtained chapter 11 protection against precipitous actions of bank creditors"

* Lenders have rendered it impossible to achieve an effective restructuring in Singapore

* Will continue to engage and work closely with all creditors, including bondholders Source text (bit.ly/2dd5Hvc) Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below