Cargologicair sells off remaining stock and redundant staff can be paid
The remaining stock of Cargologicair, still under administration, is soon to be sold. The formerly ...
Photo: PIL
By Mike Wackett
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 wholly-owned subsidiary of Tamasek, which is subject to the acceptance ...
Comment on this article
Raphael
January 22, 2021 at 8:25 amYour service is poor when it come to Ghana High charges bad service how do you expect people to go on such a company you guys should wake up