Financially troubled fish farmer Barramundi Group Ltd announced that it has reached an agreement with its principal secured creditor, United Overseas Bank Limited (UOB), on the main terms of a proposed restructuring of the company’s debt with UOB.
The details of the arrangement are currently being documented in a proposed Pre-packaged Scheme of Arrangement, the implementation of which is subject to approval of the High Court of Singapore.
As part of the process, Barramundi Group has filed an application to the court for an extension of a Moratorium Order until July 11, 2025.
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