Malaysian court grants AirAsia X restraining order on creditors

Malaysia’s high court on Wednesday granted a restraining order for three months on 15 of AirAsia X’s creditors over the debt recast talks for the airline. The order, applied for by AirAsia X to address its obligations in a timely manner, gives the creditors an opportunity for amicable discussions without “extraneous considerations,” according to an exchange filing. The order comes with certain carve-outs, which means some creditors can continue legal proceedings subject to not executing the judgment pending the lapse of today’s order, according to Kwan Will Sen, a lawyer representing Malaysia Airports and BOC Aviation. AirAsia's long-haul arm in October proposed a sweeping restructuring plan that would wipe out almost 63.5b ringgit ($15b) in debt and save the Malaysian carrier from being dragged under by aviation’s worst-ever crisis. <br/>