Indonesian creditors of Berlian Laju Tanker (BLT) have voted in favour of a giving the company further 90-day extension to produce restructuring plans, Seatrade Asia online reports.
At a meeting held in Jakarta’s central court last week 96% of creditors voted in favour of an extension of the PKPU restructuring process. Dual Singapore and Jakarta-listed BLT is undertaking restructuring in both the Singapore and Indonesian courts.
“BLT is working with its major international and local creditors in respect of the proposed restructuring terms, and this effort will continue with added urgency moving forward. BLT is appreciative of the cooperation and support it has received from a number of significant creditors,” BLT said.
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