Charisma Energy Services (SGX:5QT) has secured court approval for its supplementary scheme aimed at restructuring its debts, according to a Thursday filing on the Singapore Exchange.
The ruling allows implementation alongside its subsidiary, CES Yichang, and category A participating creditors.
RSM SG Corporate Advisory's Lin Yueh Hung and Yap Hui Li will serve as scheme managers. The company has filed the court order with the Registrar of Companies.
As part of the restructuring, Charisma Energy has assigned its rights to the purchase consideration from the recent Yichang disposal to CES Yichang.
CES Yichang has established a trust deed to manage payments to creditors and REPS holders.
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