High Court approves Petroceltic survival scheme

An amended survival scheme for Petroceltic International and two related companies which sees the troubled explorer taken over by Cayman-Islands-based fund Worldview has been approved by the High Court.

High Court approves Petroceltic survival scheme

The scheme came into effect at 6pm yesterday.

There was no opposition to the modified scheme when it was put before Mr Justice Brian McGovern from 12.30pm yesterday.

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