RESTRUCTURING

摘要

Danish shipping firm torm has signed a restructuring agreement on the company's US$1.4bn debt with a group representing 61% of its lenders and Oaktree Capital Management. Torm recently obtained a forbearance agreement from its creditors which gives it until April 23 to get the required support from the remaining lenders. It needs support from 75% of lenders to push through the restructuring plan using a scheme of arrangement.