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PIL seeks extra breathing space with court trip

Under pressure Pacific International Lines (PIL) has provided an update on its restructuring, heading to Singapore’s High Court yesterday to seek approval for a scheme of arrangement with creditors as it awaits further financing from a unit of the republic’s sovereign wealth fund. The scheme of arrangement – a Singaporean version of bankruptcy protection – …

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Under pressure Pacific International Lines (PIL) has provided an update on its restructuring, heading to Singapore’s High Court yesterday to seek approval for a scheme of arrangement with creditors as it awaits further financing from a unit of the republic’s sovereign wealth fund. The scheme of arrangement – a Singaporean version of bankruptcy protection – …

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