- G3 Exploration said that the Cayman Court would hear applications on 11 December from both the company on its plans to restructure assets and a liquidation petition from the Nordic Bond Trustee.

The Nordic Bond Trustee was seeking to petition the appointment of Alvarez and Marsal as joint official liquidators (JOLs) of the company.

But G3 said it believes that the interests of all stakeholders would be best served if joint provisional liquidators (JPLs), rather than JOLs, are appointed to facilitate the re-structuring of its assets and on-going business.

The company filed an application with the Grand Court on 25th November, 2019 to request the appointment of JPLs. If its application is successful, the company expected to continue as a going concern through this process and following the re-structuring.

At 9:55am: (LON:G3E) G3 Exploration Ltd share price was -0.2p at 15.3p

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