General Announcement::UPDATE ON OUTCOME OF CHAPTER 15 APPLICATION

Issuer & Securities

Issuer/ Manager
PB INTERNATIONAL B.V.
Securities
PB INTL USD200M7.625%N220126 - XS1555631925 - 68AB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
09-Mar-2022 21:48:25
Status
New
Announcement Sub Title
UPDATE ON OUTCOME OF CHAPTER 15 APPLICATION
Announcement Reference
SG220309OTHRM4VC
Submitted By (Co./ Ind. Name)
Hudya Indah Panggita
Designation
Corporate Secretary
Effective Date and Time of the event
09/03/2022 17:00:00
Description (Please provide a detailed description of the event in the box below)
Further to our notice dated 9 February 2022, we are pleased to inform all Scheme Creditors that the Chapter 15 Application was heard by Judge Martin Glenn at the United States Bankruptcy Court of the Southern District of New York on 8 March 2022 and granted in terms.

Amongst other things, the Chapter 15 Orders provide that:
1. HC/OS 1301/2021 (being the proceedings brought by the Company for the approval of the Scheme before the Singapore High Court) pursuant to Section 71 of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018) (the "Singapore Proceeding") is granted recognition as a foreign non-main proceeding pursuant to section 1517(b)(2) of the U.S. Bankruptcy Code;
2. Geoffrey David Simms is recognized as the duly appointed foreign representative of the Company within the meaning of section 101(24) of the U.S. Bankruptcy Code, and is authorized to act on behalf of the
Company in the matter and take all actions necessary to effectuate the relief granted pursuant to the Chapter 15 Orders; and
3. the Singapore Proceeding, the Scheme and Sanction Order are recognised, granted comity, and entitled to full force and effect in the United States against all entities in accordance with their terms, and the Scheme and the Sanction Order shall be binding and fully enforceable on all Scheme Creditors.

Attachments

Notice - Update on Chapter 15.pdf
Total size =94K