Singapore car-sharing service Shariot, related firms face S$180 million debt; exploring survival options
Lawyer’s letter to creditors requests temporary standstill on enforcement or recovery actions
[SINGAPORE] A group of nine related companies, including car-sharing service Shariot and rental company Autobahn Rent A Car, is exploring restructuring options.
The Business Times understands that the group’s debts are in the region of S$180 million, and that creditors have been asked to hold off on enforcement and recovery actions until concrete next steps are decided.
A letter seen by BT dated Tuesday (Nov 25), from law firm Fervent Chambers to the companies’ creditors, said that Fervent has been appointed by the companies to advise on “potential restructuring options”.
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