Berlian Laju Tankers (BLT) Chapter 15 bankruptcy protection in the US has been extended until mid-March, Seatrade Asia online reports. As BLT continues to try and reach agreement with creditors on restructuring its US arm BLT Chembulk Group said a US Federal Court in New York had extended its Chapter 15 in recognition of the company’s filing in Singapore and protection of assets until 12 March 2013.
As it currently stands D-Day for BLT is 2 January 2013 when, unless a further extension is granted by courts in Jakarta, the company has to put the restructuring plans to a vote of Indonesian creditors.
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