Serrano Limited and Serrano Holdings announced that they had managed to convince scheme creditors to approve extension of the effective date of the credit scheme by another 2 months i.e. 3 July 2017. Under Serrano Limited, 2 scheme creditors approval were obtained and that the aggregate value of the claim amounted to SGD 31.1 Million. For Serrano Holdings, participating creditors (under Serrano Limited Guarantees) credit amounted to SGD34 Million and Secured Creditor (other Security) credit amounted to SGD 2.9 Million scheme approval were obtained, however, under Un-secured Creditor scheme, only about 85% approval of creditors present (or about 92% based on credit values amounted to SGD64 Million) were obtained.

The announcement were prepared by the company and reviewed by its sponsor which is the United Overseas Bank.

EditorPropertyRetailServicesSerrano,SingaporeSerrano Limited and Serrano Holdings announced that they had managed to convince scheme creditors to approve extension of the effective date of the credit scheme by another 2 months i.e. 3 July 2017. Under Serrano Limited, 2 scheme creditors approval were obtained and that the aggregate value of the claim...