Barramundi Group has applied to the High Court of the Republic of Singapore for a six-month moratorium on any receivership and legal proceedings against the company as it works to restructure.
Barramundi Group began a comprehensive restructuring scheme in September 2024 to deal with financial difficulties. The company was placed on the Oslo Børs penalty bench in June 2024 after failing to meet deadlines to disclose its financial results for FY 2023. That failure came after similar delays to its FY 2022 results, which when eventually released, showed it had posted a SGD 31.9 million (USD 24.4 million, EUR 22.5 million) loss for the year.
As it continues to work to turn things around, Barramundi Group said it has sought relief from the High Court of the Republic of Singapore under Section 64 of the country’s Insolvency, Restructuring, and Dissolution Act.
If approved under the order, the company will have a six-month period where ...
