On Oct 13, KS Energy announced that the company and KS Drilling will be placed under judicial management. The High Court previously granted OCBC Bank’s application to place KS Energy and KS Drilling under judicial management on Aug 31.
According to an SGX filing, the costs of the application will be paid out of the assets of KS Energy and KS Drilling.
Further to the appointment, Grimmett and Lim will “continue to work with and engage creditors and stakeholders of the company and KS Drilling, and in particular, will prioritise seeking investors and interested parties for the group and its operations”.
