According to an email penned by Jack Noonan, the chief of US offshoot Chembulk Tankers, the Central Court of Jakarta has signed off an order that delayed an earlier deadline by 50 days.
Now, creditors are scheduled to vote on BLT’s proposed restructuring plan during a hearing on 2 January 2013 unless another extension is granted.
Last week, 98% of those with claims connected to the so-called 'postponement of the debt payment' proceedings, a process known locally as Penundaan Kewajiban Pembayaran Utang or PKPU, were in favour of delaying the vote, Noonan said.
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