Pacific International Lines (PIL) has announced that it has developed a restructuring plan with its investors Heliconia Capital Management and has applied to Singapore’s High Court for protection while the scheme’s provisions are put in place.
The court application will also request leave from the courts to convene a meeting between PIL and its creditors so that the troubled carrier can explain the proposed scheme to creditors.
“The restructuring plan contemplates the provision of fresh financing...
https://container-news.com/pil-files-for-court-protection-as-restructuring-plan-takes-shape/