Pacific International Lines (PIL) has issued a stark final plea to its creditors to vote in favour of its “last resort” restructure plan on 1 February or risk receiving just $2 per $100 from its liquidation.
The embattled Singapore-headquartered ocean carrier, founded in 1967, presented its final restructuring package to creditors including bunker suppliers and shipowners on 11 November.
PIL reminded creditors that the package involves a $600m cash injection from Heliconia, a …
The post ‘Back us or lose us’ – PIL’s final desperate plea to creditors appeared first on The Loadstar.
Source: The Loadstar
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