GP Global subsidiary seeks debt moratorium in Singapore

Bunker supplier GP Global is undergoing a restructuring, and in that connection a Singaporean subsidiary applies for a debt-related grace period. Creditors have outstanding receivables totaling more than USD 460 million, writes Reuters.

Photo: Prerit Goel er er joint managing director for GP Global, som nu er i færd med at restrukturere.

A subsidiary under bunker supplier GP Global has asked the Singapore High Court for a six-month so-called debt moratorium, writes Reuters.

The petition has been filed by Dubai-based GP APAC. GP APAC is a subsidiary under bunker supplier GP Global, which is struggling financially and is currently in the process of restructuring debt totaling more than USD 1 billion.

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