Barramundi Group Ltd. has announced that it has applied to the court for approval of its proposed scheme of arrangement following a successful vote solicitation from its creditors. The company, listed on Euronext, had solicited votes from its creditors by 11 June 2025, with the results showing strong support for the restructuring plan.
The vote solicitation process revealed that out of 10 unsecured creditors, seven submitted their Proof of Debt Forms by the deadline. Of these, five creditors submitted their voting forms, whilst two did not, resulting in a waiver of their voting rights. Two additional creditors submitted their forms after the deadline, allowing them to receive distributions under the scheme but not to vote.
The results showed that the secured creditor voted unanimously in favour, with a total value of $7,500,000 (SGD 10,206,500.17). Among unsecured creditors, 99.28% in value and 80% in number voted in favour, with only one creditor opposing. The related party creditors’ votes were discounted entirely.
Following this outcome, Barramundi Group has applied to the court under the Insolvency, Restructuring and Dissolution Act 2018 for approval of the scheme and an interim extension of the Moratorium Order. The application has been assigned case number HC/OA 647/2025, although a hearing date has yet to be set.
This development marks a significant step in Barramundi Group’s efforts to restructure its financial obligations and stabilise its operations. The court’s decision will be pivotal in determining the company’s future course.
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