DOF Subsea AS
DOF Subsea AS
02/02/2023 | Press release | Distributed by Public on 02/02/2023 04:19
DOF ASA: Hordaland tingrett has resolved to open bankruptcy proceedings
Reference is made to DOF ASA's (the "Company" or "DOF ASA", and together with its subsidiaries the "Group") announcement at 21:00 on 1 February 2023 regarding the request to Hordaland tingrett to open bankruptcy proceedings in DOF ASA and continuation of the financial restructuring to ensure continued operations of all other companies in the Group in spite of the bankruptcy in DOF ASA.
Hordaland tingrett has now resolved to open bankruptcy proceedings in DOF ASA and it is expected that the administrator of the bankruptcy estate shortly will enter into the agreement with the financial creditors of the Group facilitating that the other companies in the Group than DOF ASA will remain unaffected by the bankruptcy in DOF ASA. As a result of said agreement, the bankruptcy of DOF ASA will be limited solely to such Company and will not affect any other company in the Group. Such alternative implementation of the agreed financial restructuring has been structured to avoid any interruption to the ongoing operations of the Group and to avoid losses for the Group's customers, suppliers and other trade creditors. Consequently, no other creditors than the financial creditors, nor any of the employees of the Group, are to be affected by such alternative implementation of the financial restructuring.
For further information, please contact:
CEO Mons Aase, tel. +47 91 66 10 12
CFO DOF ASA Hilde Drønen, tel. +47 91 66 10 09
This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Hilde Drønen, CFO, DOF ASA.
Hordaland tingrett has now resolved to open bankruptcy proceedings in DOF ASA and it is expected that the administrator of the bankruptcy estate shortly will enter into the agreement with the financial creditors of the Group facilitating that the other companies in the Group than DOF ASA will remain unaffected by the bankruptcy in DOF ASA. As a result of said agreement, the bankruptcy of DOF ASA will be limited solely to such Company and will not affect any other company in the Group. Such alternative implementation of the agreed financial restructuring has been structured to avoid any interruption to the ongoing operations of the Group and to avoid losses for the Group's customers, suppliers and other trade creditors. Consequently, no other creditors than the financial creditors, nor any of the employees of the Group, are to be affected by such alternative implementation of the financial restructuring.
For further information, please contact:
CEO Mons Aase, tel. +47 91 66 10 12
CFO DOF ASA Hilde Drønen, tel. +47 91 66 10 09
This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Hilde Drønen, CFO, DOF ASA.