Jurong Aromatics in receivership as talks to restructure debt stall
Petrochemical plant has failed to service interest payments amid plunge in oil prices
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Singapore
JURONG Aromatics Corp, operator of one of the world's largest petrochemical plants, has been pushed into receivership after debt-restructuring talks stalled, according to a filing with the Accounting and Corporate Regulatory Authority (Acra).
Restructuring firm Borrelli Walsh has been appointed the receiver, according to the filing dated Sept 28. Cosimo Borrelli, Hong Kong-based managing director at the receiver, didn't immediately respond to a phone call and an email. Jurong Aromatics said in an emailed statement it declined to comment.
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