Canada markets closed
  • S&P/TSX

    20,311.78
    +81.38 (+0.40%)
     
  • S&P 500

    4,419.15
    +18.51 (+0.42%)
     
  • DOW

    35,084.53
    +153.60 (+0.44%)
     
  • CAD/USD

    0.8036
    +0.0051 (+0.64%)
     
  • CRUDE OIL

    73.45
    +1.06 (+1.46%)
     
  • BTC-CAD

    49,467.79
    -642.02 (-1.28%)
     
  • CMC Crypto 200

    935.12
    +4.76 (+0.51%)
     
  • GOLD FUTURES

    1,832.40
    +27.80 (+1.54%)
     
  • RUSSELL 2000

    2,240.03
    +15.07 (+0.68%)
     
  • 10-Yr Bond

    1.2690
    +0.0080 (+0.63%)
     
  • NASDAQ

    14,778.26
    +15.68 (+0.11%)
     
  • VOLATILITY

    17.70
    -0.61 (-3.33%)
     
  • FTSE

    7,078.42
    +61.79 (+0.88%)
     
  • NIKKEI 225

    27,782.42
    +200.76 (+0.73%)
     
  • CAD/EUR

    0.6755
    +0.0014 (+0.21%)
     

Creditors can't sue AirAsia X for another 9 months, says Malaysia court

·1 min read
FILE PHOTO: Tail of AirAsia X plane as seen at the Garuda Maintenance Facility AeroAsia in Tangerang

KUALA LUMPUR (Reuters) - 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 64.15 billion ringgit ($15.5 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 500 million ringgit.

($1 = 4.1390 ringgit)

(Reporting by Liz Lee; Editing by Muralikumar Anantharaman)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting