Revote for BLT restructuring due this week
Jakarta: Creditors failed to vote in enough numbers to pass the restructuring plan for troubled Indonesian firm Berlian Laju Tankers (BLT) on Friday. However, since the vote was deemed close the supervising judge has called for a revote, likely to be held before the end of this week.
“BLT will work with its secured creditors and obtain the requisite majority in respect of its secured creditors for approval of the restructuring plan,” the heavily in debt shipping line said in a release.
Source: http://www.seashipnews.com/