BLT gets restructuring extension from Singapore courts
Singapore’s High Court has given more time for debt-ridden Berlian Laju Tanker (BLT) to continue its restructuring plan.
The High Court of Singapore has granted an extension of the section 210 filing until 10 January 2013, thereby continuing the protection of BLT’s assets through that time, according to John D. Noonan, ceo of BLT Chembulk Group, BLT’s US subsidiary.
“A hearing in US Federal Bankruptcy Court is scheduled for 6 December for BLT to obtain a similar extension of its chapter 15 recognition of the section 210 filing, which we fully expect will be granted,” Noonan said in a statement.
Last week, the Central Court of Jakarta approved an order to extend the claimant creditors’ vote on BLT’s restructuring plan to 2 January 2013 from a previous deadline of 13 November.
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