The second AIP for the PRS paves the way for court-convened meetings with the relevant classes of creditors of Sapura Energy and its relevant subsidiaries. It will also facilitate a prospective financial investment from a White Knight. Sapura Energy Interim Chairman Shahin Farouque Jammal Ahmad expressed gratitude to CDRC for their invaluable guidance and support during the mediation process. "We wish to thank both the CDRC and the MCF Financiers for continuing to support Sapura Energy's turnaround effort", said Shahin. "With this positive development, Sapura Energy is another step closer to regularising our financial position and emerging from our status as a Practice Note 17 company."