Oil Service Company with 88 employees become bankrupt

Emas AMCPhoto: Emas AMC

The Norwegian oil service company Emas AMC which has 88 employees and is headquartered in Lysaker, Oslo become bankrupt.

According to Dagens Næringsliv, the board decided for the company to file bankruptcy petition during a meeting on Sunday and it even went to bankruptcy court.

Reported $ 298 million dollar in debt and assets of $ 288 million dollar. “But the value is significantly less, partly because much of the assets consists of intercompany receivables, and the entire group is now in a debt negotiation,” the ruling said from Oslo City Court.

Attorney Håvard Wiker is appointed as trustee.

– It is unclear what happens to the employees, he says to DN.

 

Source: NTB scanpix / Norway Today

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