Creditors can’t sue AirAsia X for another nine months, High Court rules

The court had granted a restraining order in March for three months, as the budget airline undergoes a restructuring of its RM64.15 billion debt. — Reuters pic

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KUALA LUMPUR, June 18 — The Malaysian high court has granted AirAsia X Bhd a nine-month extension on a restraining order which prevents creditors from filing any legal proceedings against it, the airline said in a stock exchange filing.

The filing on Thursday said the extension runs nine months from the day of the announcement.

The court had granted a restraining order in March for three months, as the budget airline undergoes a restructuring of its RM64.15 billion debt.

Earlier this month, AirAsia X shareholders approved its debt restructuring, allowing it to pursue a scheme it viewed as key to survival which includes a rights issue and a share subscription for new investors to raise RM500 million. — Reuters

Source: Malay Mail