PA Resources bondholders approve reorganization plan

On Sept. 29, holders of PA Resources AB’s SEK- and NOK-denominated bonds approved the changes to the bonds’ terms and conditions that make up the basis of the company's proposed reorganization plan as put forward by the company and the administrator and published on Sept. 9.

The result of the bondholders’ meetings is binding to all holders of the respective bonds. In Norway, on Oct. 2, the Stockholm District Court will hold the creditors’ meeting for composition proceedings.

The Stockholm District Court has also notified that it has approved the company’s request for a further extension of the corporate reorganization until Dec.  28.

 

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