High Court OKs mm2 Asia's four-month moratorium request

No legal actions may be taken against the company during this period.

No legal or administrative proceedings may be taken against Mm2 Asia Ltd. for four months after 10 December, its board of directors said after the High Court approved its application to seek a moratorium.

The court ordered that no proceeding whether before a court, arbitral tribunal or administrative agency "shall be commenced or continued against the company, except with the leave of the Court and subject to such terms as the Court may impose," according to a bourse filing.

The moratorium also includes execution, distress or other legal process, as well as any step to enforce security over any property of the company and the right to re-entry of forfeiture under any lease.

The directive also limits the company from passing resolutions and making appointments during the four-month period.

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