Afren goes into administration


Issue 306 - 07 Aug 2015 | 1 minute read

Afren has called in administrators after failing to secure support for refinancing and restructuring proposals. The company said on 31 July that talks had “failed to deliver support for a revised refinancing and restructuring proposal that would result in Afren plc being able to pay its debts as they fall due,” and it had appointed Simon Appell, Daniel Imison and Catherine Williamson of London-based AlixPartners as administrators. “The group is in discussions with its partners and other key stakeholders with a view to continuing its operating businesses,” Afren said.

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