Singapore Court to Rule on APP
The Supreme Court in Singapore reserved judgment on a petition by Deutsche Bank AG to replace the management of Asia Pulp & Paper Co.
The Supreme Court in Singapore reserved judgment on a petition by Deutsche Bank AG to replace the management of Asia Pulp & Paper Co.
Chief Justice Yong Pung How didn't set a date when the court will meet again.
Singapore's High Court last year denied Deutsche Bank's petition to replace APP's management with court-appointed managers, leading the German bank to approach the Supreme Court.
Singapore-registered and Indonesian-owned APP owes creditors, including the German lender, some $13 billion.