Asia

Berlian Laju creditors approve restructuring

Jakarta: Berlian Laju Tanker (BLT) has reached agreement with its creditors this afternoon over its restructuring plan to cover its $1.9bn debt.
“The company is greatly appreciative of the support and confidence shown by its creditors in today's vote,” BLT said in a statement.
It remains for the Central Jakarta Commercial Court to officially sanction the restructuring plan that was voted on today. This is expected to occur on 18 March.
President Director of the company, Widihardja Tanudjaja, said: "We are overwhelmed and humbled by the spectacular show of support and confidence from our creditors. We must now work intensively to repay their confidence and bring Berlian Laju back to its rightful place as a major shipping player.”  [15/03/13]

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