Sunday July 5, 2020

Petroceltic meets with lawyers over Worldview move to appoint examiner

Exploration giant owes $230 million and cannot make repayments

5th March, 2016
Petroceltic's Ain Tsila Algerian oil field

Petroceltic International is taking legal advice over an attempt by Worldview Capital to appoint an examiner to the exploration company.

Petroceltic, whose chief executive is Brian O’Cathain, owes about $230 million to its banks and is currently unable to make its repayments.

Worldview wants to appoint high-profile Grant Thornton accountant Michael McAteer as an examiner to the exploration company. The matter is due to come back...

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