The Central Jakarta District Court granted a 75-day extension on the debt restructuring process with the PKPU, 10 days shorter than the company applied for, according to local reports. The courts said it would the company’s final extension.
Dual Singapore and Jakarta listed BLT called a debt standstill in early 2012, later filing for a scheme of arrangement in the Singapore courts. Indonesian authorities insisted a restructuring plan also had to be approved by Indonesian creditors through the PKPU.
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