KUALA LUMPUR (Feb 19): The High Court here today granted leave for budget airline AirAsia X Bhd (AAX) to hold meetings with its creditors.
The court has also separated the 14 creditors into three different classifications the first being Malaysia Airports Holdings Bhd (MAHB), the second consists of the other creditors, and the third being aircraft maker Airbus.
The decision today was made by Judicial Commissioner Ong Chee Kwan via video proceedings.
In his decision, Ong surmised that the case does not involve ‘proprietary claims’ of the creditors nor does it involve alteration of the creditors’ rights with third parties.
The court said that AAX has failed to demonstrate that they are capable of reviving its financial health.
KUALA LUMPUR (Jan 7): The High Court in Melaka has approved the scheme of arrangement between MDSA Ventures Sdn Bhd a subsidiary of Singapore-listed Hatten Land Ltd, and its creditors.
Judicial Commissioner Maidzura Mohammed granted a sanction order to the company, after being told that the scheme was approved by 96% of the total value of the creditors present and voting in person or by proxy at a creditors’ meeting on Dec 18.
“The court grants the sanction order to approve the proposed scheme of arrangement and the debt restructuring of MDSA Ventures,” the court ruled yesterday.
Counsel Lee Shih of Lim Chee Wee Partnership appeared for MDSA Ventures.