Nynas AB has today applied at Södertörn's District Court for an extension of the company reorganisation for another three months. The Administrators approve that the reorganisation shall continue. A decision from the District Court is expected to be announced late next week.
Enclosed documents contain information to creditors/suppliers of Nynas AB during the reorganisation.
The US Treasury Department’s Office of Foreign Asset Control (OFAC) announced today that Nynas is no longer being blocked pursuant to the Venezuela Sanctions Regulations. As a result of a corporate restructuring of the ownership of Nynas AB sanctions are lifted, and US persons and companies no longer require an authorization from OFAC to engage in transactions or activities with Nynas AB. As a consequence, general license GL 13E is removed.
The general license, that permits companies to continue to trade with Nynas without breaching US sanctions, has been extended to allow time to finalise the process to lift the sanctions on Nynas.
Södertörn's District Court today approved an extension of Nynas company reorganisation for another three months, until June 15. The reorganisation process will now continue with a focus on actions for removal of US sanctions applicable to the company and to finalise the long-term funding.
OFAC ready to initiate process for removal of sanctions applicable to Nynas
The company reorganisation in Nynas AB continues according to plan.
The enclosed document contains the preliminary reorganisation plan for Nynas AB.
Nynas AB (publ) has today filed for company reorganisation at Södertörn's District Court. Nynas loans have not been extended by the banks. Thus, Nynas cannot pay due debts forcing the company to apply for a reorganisation of the company.