Prosafe Provides Update on Financial Restructuring

Source: www.gulfoilandgas.com 11/9/2021, Location: Europe

Reference is made to the earlier notices regarding the ongoing financial process with the lenders, including the press release published on 25 October 2021 and earlier information regarding the Norwegian restructuring proceedings initiated on 1 September 2021 pursuant to the Norwegian Temporary Act on Restructuring.

Prosafe SE is happy to announce that the restructuring plan proposed in the Norwegian restructuring proceedings (which substantially mirrors the plan proposed in the Singapore scheme of arrangement for Prosafe SE) has now been approved by the requisite majority in number representing 100% in value of the creditors casting their votes through proxy and voting forms completed and submitted by Creditors on 8 November 2021.

This is an important milestone which will provide further certainty in the overall restructuring process.


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