The High Court ruling opens the way for creditor actions and insolvency proceedings, which may include being wound up
[SINGAPORE] An application for a moratorium by a group of eight companies, including Autobahn Rent A Car, was dismissed by the High Court on Friday (Dec 26).
The group had sought a six-month moratorium and a scheme of arrangement in an application heard by Judicial commissioner Sushil Nair.
In earlier court filings seen by The Business Times, 22 creditors opposed the application.
With an extended moratorium no longer on the cards, it opens up the group to creditor actions and insolvency proceedings, which may include being wound up.
The eight companies are: Autobahn Rent A Car, Hamilton Autohub, Hamilton Capital, Shinsei…