27th Jul 2015 10:00
LONDON (Alliance News) - Max Petroleum PLC on Monday said it has started a rehabilitation process under Kazakh law for its Samek International LLP subsidiary.
The process in the country is similar to the Company Voluntary Arrangement in the UK and provides the company with protection against creditors and will provide a framework for Samek to reach an agreement with its creditors on a repayment timetable.
Max Petroleum shares are currently suspended.
By Sam Unsted; [email protected]; @SamUAtAlliance
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