Capricorn announce Waldorf update

06 May Capricorn announce Waldorf update

(Oilandgaspress) -–Capricorn notes that Waldorf Production UK Plc’s restructuring plan under Part 26A of the Companies Act has now been sanctioned by the Court.

Following sanction and subject to completion of the associated transaction, including a further restructuring plan in Scotland in respect of Waldorf CNS (I) Limited, Capricorn expects to receive cash proceeds of approximately US$4-5m, together with recovery of certain outstanding costs in H2 of this year. The final amount remains subject to customary completion adjustments.

Capricorn retains the right to participate in potential residual claims.

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