Karachi March 15 2023: Hascol inform that the secured creditors of the Company following the adjournment of the meeting of the secured creditors held on December 22, 2022 pursuant to the Order, the adjourned meeting of the secured creditors of the Company will be held on April 6,2023 at 10:00 AM, to consider and, if thought fit, approve, agree and adopt the modified Scheme of Arrangement.
The meeting is important for the purpose of obtaining approval of the modified Scheme of Arrangement between Hascol Petroleum Limited (the “Company”), its secured creditors and members (the “Scheme of Arrangement”) for, inter alia, the rehabilitation of the Company through the restructuring / rescheduling, settlement and repayment of the existing financial obligations / liabilities of the Company towards its secured creditors, along with all ancillary matters thereto, pursuant to the Order of the Honorable Sindh High Court at Karachi dated November 24, 2022, passed in Petition bearing J.C.M. No. 31 of 2022 (“Order”).
