Petroceltic

Examinership of oil and gas company is now expected to conclude in early June

Worldview-owned company says acceptance conditions have not been satisfied

Application faced no opposition

Troubled explorer in court on Friday as part of an examinership process

The company, caught between its dispute with Worldview and the collapse in oil prices, is due in court on Friday

Debt holders will jockey for position at examinership hearing on Friday

Company’s examinership case was adjourned at High Court on Monday

Move follows discussions between Petroceltic and Worldview after court petition

Cayman fund warns offer at risk if Petroceltic’s examinership leads to equity wipeout

Bank sells its loans at about 30% of face value to activist shareholder Worldview

Move comes days after interim examiner appointed to troubled exploration firm

He will aim to formulate rescue plan within next three months for debt-ridden company

Move follows discussions between the exploration firm and shareholder Worldview

Explorer says further waiver over its debts agreed but not concluded due to petiton

Dissident shareholder seeks to secure court protection for oil and gas firm

Troubled oil and gas explorer says it still has the support of its lenders