KNM to present SOA at creditors meeting soon

Under the draft SOA, the current board of KNM has undertaken to pay the principal in full for both the secured and unsecured creditors.

PETALING JAYA: KNM Group Bhd says the postponed court-convened meeting on Oct 12 to a later date was ordered by the Court to address the concerns of the minority of creditors in value.

The Practice Note 17 (PN17) company stated it then held an informal creditors meeting on the same day where all the creditors were invited to attend for the purpose of engagement and addressing any queries they may have on the proposed debt restructuring plan or scheme of arrangement (SOA).