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Torm expects to complete restructuring by mid-July

Torm expects to complete restructuring by mid-July
Torm expects to complete its restructuring with private equity firm Oaktree by mid-July after getting the required consent from creditors.

Torm said on Thursday that lenders had approved its Scheme of Arrangement under its four major loan facilities.

The company said: “Torm will then be able to implement the final steps to complete the restructuring with an expected restructuring completion date around mid-July 2015.”