PA Resources receives approval for continued reorganization

On April 15, the Gunvor Group recalled its petition for bankruptcy in PA Resources AB (STO:PAR) (OSE:PAR) and, as a result, the petition was dismissed by the Stockholm District Court.

Additionally, following an April 15 creditors’ meeting, the Stockholm District Court approved a continued reorganization of PA Resources AB until June 29. The court also appointed a creditors’ committee in which lawyer Johan Lundberg of Advokatfirman Cederquist KB and solicitor James Terry of Akin Gump Strauss, Hauer & Feld LLP are members.

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