Marco Polo Marine obtains approval for shipyard restructuring

Singapore-based Marco Polo Marine has obtained court approval for a debt restructuring of its shipyard in Indonesia. 

Marco Polo’s subsidiary, PT Marcopolo Shipyard, on May 21, 2017, filed an application to place itself under a suspension of debt payment plan in accordance with laws on bankruptcy and suspension of debt payment in Indonesia.

The shipyard was then required to submit a debt restructuring plan for its creditors to consider at a creditors’ meeting.

According to Marco Polo Marine’s statement from last week. the shipyard has obtained the court declaration in response to the proposal for the suspension of payment obligations and a debt restructuring has been agreed by the shipyard and the relevant creditors.

Accordingly, the Commercial Court of Medan has endorsed the agreed debt restructuring under the restructuring proposal and ordered the shipyard and the creditors to comply with the proposal.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Jul 2018 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

FPSO World Congress 2018

This year’s FPSO World Congress will tap on this green shoots of recovery and will focus on practical strategies to address key project…

read more >

ONS 2018

Offshore Northern Seas (ONS) provides a platform for the presentation of the political, economic and technological issues involving…

read more >

FPSO World Congress 2018

The Congress will continue its global focus and will feature the biggest and most important names in the FPSO industry…

read more >

SPE Asia Pacific Oil & Gas Conference and Exhibition 2018

As the energy industry adapts to a new status quo operating under sustained low oil prices, there continues to be a need for the industry…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply