Nok Airlines Public Company Limited (NOK) reported that today (26 August 2021), the Central Bankruptcy Court has set the hearing to consider the Rehabilitation Plan and there were 7 objection petitions filed against the rehabilitation plan and these petitions were accepted for consideration by the Court.
The Court allowed the Planner and creditors to further negotiate to resolve the objections and scheduled 6 September 2021 for the Court hearing on reading the order on the rehabilitation plan. If the plan is approved by the Court, NOK will proceed to implement the rehabilitation process according to the approved plan. NOK will report on the progress of the rehabilitation including progress on any other matters.
The Central Bankruptcy Court issued an order for NOK to proceed with rehabilitation and appointed the Planners as proposed by the company on 4 November 2020. The company submitted the business rehabilitation plan and its amendment to the Official Receiver on 17 May 2021 and 30 July 2021 accordingly. The rehabilitation plan and its amendment were accepted by 76.72 percent of the total debt of creditors who attended the meeting and casted votes accepting the Rehabilitation Plan during creditor meeting on 4 August 2021.