Former Cathay cinema operator gets 4-month extension for debt moratorium
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The Singapore High Court has granted a 4-month extension of the debt moratorium for mm2 Asia and its unit mm2 Entertainment, protecting them from creditors until August 10. This extension allows the company more time to develop a debt-repayment plan. The original moratorium was applied for on November 10 and granted on December 10. mm2 Asia's attempt to raise S$14 million through a share placement failed due to changed circumstances after the moratorium was granted.
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