mm2 Asia seeks High Court moratorium to prevent winding up resolutions for four months

mm2 Asia is seeking a High Court moratorium to prevent winding-up resolutions for four months as it undergoes a restructuring process. The entertainment group has received a S$74.6 million payment demand from UOB and is facing multiple demands from landlords related to its failed cinema chain. The moratorium aims to protect the company's core business and allow management to focus on operational continuity, preventing legal actions against it during this period. Shares of mm2 Asia fell 25% to S$0.003 following the announcement.