July 1, 2020 / 6:12 AM / 7 days ago

BRIEF-KBBO Group Announces Launch Of Financial Restructuring Process - Statement

July 1 (Reuters) - KBBO GROUP:

* KBBO GROUP ANNOUNCES LAUNCH OF FINANCIAL RESTRUCTURING PROCESS - STATEMENT

* COVID-19 OUTBREAK AND EXPOSURE TO NMC-RELATED CHALLENGES HAVE NEGATIVELY IMPACTED KBBO GROUP’S OPERATIONS

* RESTRUCTURING PROCESS TO BE CARRIED OUT UNDER SUPERVISION OF FINANCIAL REORGANIZATION COMMITTEE

* RESTRUCTURING ADVISORY TEAM APPOINTED TO ASSIST WITH FORMULATION OF COMPREHENSIVE RESTRUCTURING PLAN

* PLAN AIMED TO ENSURE LONG TERM VIABILITY OF BUSINESSES AND DELIVER A FAIR AND BALANCED OUTCOME FOR ALL STAKEHOLDERS

* TRUSSBRIDGE ADVISORY (DIFC) LIMITED AND PWC MIDDLE EAST HAVE BEEN APPOINTED AS FINANCIAL EXPERTS

* HADEF & PARTNERS LLC AND CLEARY GOTTLIEB STEEN AND HAMILTON LLP WERE APPOINTED AS LEGAL ADVISORS

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