BLT’s future to be decided at beginning of 2013


The question as to whether creditors will accept Berlian Laju Tanker’s (BLT) restructuring looks set to be settled on 2 January 2013.

Creditors of BLT recently voted 98% of creditors, representing 95% of claims value voted in favour of an extension on date for the ultimate vote on the restructuring. Jakarta courts have now granted a 50-day extension from the previous deadline of 13 November, meaning the vote of restructuring will take place on 2 January 2013. BLT had requested a 60-day extension.

“Unless there is a further extension, the claimant creditors’ vote on BLT’s restructuring plan will be known at that time,” said Jack Doonan, ceo BLT Chembulk, the Indonesian company’s US subsidiary.



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