PA Resources AB has filed a petition with the Stockholm District Court to extend its corporate reorganization with a further three months.
The company filed for corporate reorganization on March 26. Following a decision by the District Court on July 9, the corporate reorganization was extended until Sept. 28. On Sept. 9, the company filed a request for a composition proceedings with the court, following which the court, on Sept. 10, decided that a creditors’ meeting under composition proceedings is to be held on Oct. 2.
As the creditors’ meeting is to be held after Sept. 28, it is necessary to extend the corporate reorganization so that the creditors’ meeting can be held and the composition can become legally binding.