Boustead Naval Shipyard Decision on Restraining Order and Scheme of Arrangement

21 May 2021 – The Edge Malaysia reported on the ongoing Boustead Naval Shipyard application for a restraining order and to proceed with a scheme of arrangement.

Boustead Naval Shipyard Sdn Bhd will know on June 2 whether the High Court here will grant leave for a restraining order against its creditors and allow the firm to enter into a scheme of arrangement for more than RM1 billion of its debts.

High Court Judicial Commissioner Liza Chan Sow Keng fixed the date after hearing submissions on the issue from legal representatives of Boustead and the 15 financial institutions or creditors on Wednesday evening.

Lee Shih, Nathalie Ker and Pang Huey Lynn are acting for Boustead Naval Shipyard.