High court approves Globe Trust reorganisation plan

Globe Trust and Investment Company Limited (GTICL) yesterday said Chief Justice Carl Singh last Wednesday approved a reorganisation plan it submitted last November.

GTICL said the court was required to approve the plan or order compulsory liquidation. The release said Justice Singh “ordered and directed that the Reorganization Plan which was submitted to the High Court pursuant to the provision of Section 50(2) of the Financial Institutions Act 1995 (FIA)