The filing comes a week after Bumi Investment Pte Ltd., Bumi Capital Pte Ltd. and Enercoal Resources Pte Ltd. also obtained a six-month moratorium in a Singapore court against legal action from creditors.
According to the latest U.S. filing, Bumi Resources and its three units have missed several interest payments since September on debts worth a total of $1.38 billion. Bumi Resources has to reach an agreement with its creditors or undergo a restructuring process under Indonesian law to achieve “a meaningful recovery” for its units and affiliates, Chief Financial Officer Andrew Beckham said in the U.S. court documents.
