Jurong Aromatics in receivership as talks to restructure debt stall
Petrochemical plant has failed to service interest payments amid plunge in oil prices
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 sai…
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