PA Resources seeks three-month extension of corporate reorganization

By Caroline Salls

Pittsburgh, June 25 – PA Resources AB filed a petition with the Stockholm District Court to extend its corporate reorganization three months, according to a Thursday news release.

As previously reported, PA Resources filed for corporate reorganization on March 26. The filing was approved by the court on March 27.

Following a creditors meeting on April 15, the court continued the reorganization until June 29.

On June 22, PA Resources announced that it had reached an agreement with its biggest creditors concerning short-term financing.

The company said it asked for the additional three-month extension because it needs more time to complete the reorganization.

PA Resources is an oil and gas company based in Stockholm.

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