KUALA LUMPUR (March 8): The High Court on Wednesday (March 8) granted Sapura Energy Bhd and its 22 subsidiaries fresh orders to hold court-convened meetings with creditors within three months.
The court also allowed a three-month restraining order (RO) on the creditors.
Both orders granted by judge Atan Mustaffa Yussof Ahmad are effective from Saturday, following proceedings conducted on Wednesday.
The Sapura Energy subsidiaries are Sapura Marine Ventures Sdn Bhd, Sapura Geosurvey Sdn Bhd, Sapura Drilling Probadi Sdn Bhd, Sapura Subsea Services Sdn Bhd, Sapura Geoscience Sdn Bhd, Sapura Subsea Corporation, Sapura Engineering (Offshore) Sdn Bhd, Sarku Engineering Services Sdn Bhd, Sapura Technology Solutions Sdn Bhd, Sapura Fabrication Sdn Bhd, Sapura Engineering Sdn Bhd, Sapura Offshore Sdn Bhd, Sapura Petroleum Ventures Sdn Bhd, Sapura 1200 Ltd, Sapura Geotechnics Sdn Bhd, Sapura Pinewell Sdn Bhd, Sapura TMC Sdn Bhd, Sapura 3500 Ltd, Sapura Dana SPV Pte Ltd, Sapura Nautilus Sdn Bhd, Sapura 900 Pte Ltd, and Sapura Drilling Pte Ltd.
They filed an ex-parte application last Friday where, among others, they sought the court order to hold the court-convened meetings and the RO.
The ex-parte application was filed with a certificate of urgency, and the matter was heard by Atan Mustaffa on Wednesday morning.
Sapura Energy and its subsidiaries were represented by Saheran Suhendran, Jack Yow, Kwong Chiew Ee and Neoh Jin Keat.
Last June, Sapura Energy and the 22 units obtained a nine-month RO against creditors then granted by judicial commissioner Adlin Abdul Majid.