Singapore: Troubled Indonesian line Berlian Laju Tanker has reiterated its intentions to come up with a realistic restructuring plan and to continue trading. US investor Grammercy has called for the line, burdened by huge debts, to be wound up. BLT has until the latter part of March to come up with a favourable plan.
“The company has continued its discussions with creditors and is aiming to put a final restructuring plan to vote as soon as possible. If the requisite majority of the company’s creditors vote in favour of the restructuring plan put forward by the company, the Central Jakarta Commercial Court is expected to sanction the restructuring plan. If the requisite majority of creditors do not vote in favour of the proposed plan, the company will be made bankrupt,” BLT said in a release to the Singapore Stock Exchange yesterday.
BLT stressed: “It continues to be the company’s intention to restructure its debts”. [16/01/13]
