BlackGold Natural Resources Ltd. (SG:41H) has released an update.
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BlackGold Natural Resources Ltd., currently under judicial management, has secured approval from a majority of its creditors to extend the judicial management period by an additional six months starting July 26, 2024. This extension will allow the company more time to prepare and submit their Statement of Proposals as per the Insolvency, Restructuring and Dissolution Act requirements. The approval was given by 12 out of 19 creditors who voted in favor of both resolutions presented, demonstrating creditor support for the company’s ongoing restructuring efforts.
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