BLT Chembulk chief executive Jack Noonan told customers that the proceedings in the scheme of arrangement proceedings in Singapore’s High Court are an “important milestone” in BLT’s restructuring deal.
“I want to assure you that regardless of what you may see in the press, the commencement of the Singapore proceedings – and the selection of the Singapore court as a forum to implement certain key aspects of the restructuring – were deliberate actions taken in furtherance of, and in accordance with, the consensual process that we have in place with our senior lenders,” he said in an email provided to TradeWinds.
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