KrisEnergys winding up petition will be addressed by Grand Court of the Cayman Islands on July 12 at 9 am according to an announcement released by the upstream oil and gas company on Friday.
A winding up petition is a notice issued when a companys creditors submit a request to the court to liquidate the company because it is believed to be insolvent.
Keppel Corp Ltd (KCL), KrisEnergys largest shareholder, recently declared that it will realise a loss of more than $240 million during the first half of 2021 because of its exposure to KrisEnergy.
A KCL announcement said it is now implementing detailed recovery plans developed in consultation with its financial advis…
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