Jack Noonan, the chief executive of US affiliate Chembulk Tankers, says the latest in a series of extensions proves that the vast majority of counterparties involved in the so-called PKPU proceedings in Jakarta believe BLT is “heading in the right direction”.
He told TradeWinds that creditors had two chances to vote against a tentative restructuring plan filed with an Indonesian court but in both cases opted to delay the deadline in an effort to “finalise and fully understand” a proposal that will be put to the test on 2 January 2013.
“They
