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Berlian Laju obtains court order to stop ship arrests

Berlian Laju obtains court order to stop ship arrests
Singapore: Financially strapped Berlian Laju Tanker (BLT) has obtained a court order in Singapore to prevent further arrests of its vessels. BLT, which announced debt standstill in January, has faced a number of legal actions for lessors and suppliers.

The company said it had been successfully obtained an order from the Singapore High Court on Tuesday to stop its vessels from being impounded. The order is valid for three months.

BLT said the court order was made with the support its largest group of bank creditors.

“The irder is intended to bring stability to operations and allow the company time to undergo restructuring, while protecting the interests of its customers,” BLT said.

TAGS: Company Law
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