PT Berlian Laju Tanker Tbk, Indonesia’s largest oil and gas shipping group, said some of its subsidiaries had obtained court orders in Singapore to stay all legal proceedings against them for a period of three months.
The orders impose a temporary halt on legal proceedings initiated to arrest vessels owned by the relevant subsidiaries that made these applications, Berlian Laju said in a statement on Tuesday.
It said the court applications were made with the support of its largest group of bank creditors.
Berlian Laju said last month it had defaulted on six of its debt instruments, both dollar-denominated debt and local currency bonds. In January, it said it was freezing payments on its debt of $2.5 billion while it talked to creditors about restructuring its operations and finances.
No comments:
Post a Comment