Armour Energy Group - Case Update

Last week, we wrote about how competing DOCA proposals had been received for various Armour Energy Group entities.

At the second meeting of creditors held on January 19, the companies’ creditors voted to accept the ADZ DOCA - a combined share purchase and asset purchase transaction for various Armour Energy Group entities with consideration of $35.6 million, including a $23.6 million credit bid of ADZ’S secured debt. The companies’ creditors also resolved that Armour Energy Limited (the ASX-listed entity) and certain other entities be wound up.

Jonathan Henry, Damien Pasfield and Mark Holland of McGrath Nicol (who were also the companies’ joint administrators) were appointed joint liquidators.

Read the announcement HERE.