July 22 - Belgian abnormal load specialist, ABN Transport, has obtained court approval that protects it from creditors whilst it undertakes a restructuring.
The ruling was given on July 3, and sets a deadline of November 6, 2015 on which day the suspension of any claims from creditors will end.
Following the ruling, ABN Transport is not allowed to pay any claims which date from before July 3, 2015, as the payment of these claims will be subject to approval of the restructuring plan by the creditors.
ABN Transport indicates that this settlement does not apply to any claims that relate to services it provides after July 3, 2015.
In an official statement to creditors ABN Transport said: "that the restructuring is intended to ensure the continuity of the company so that continuation of the business activities in the future is assured".
There are around 100 companies and individuals in the list of creditors affected by this ruling, including HLPFI, with a total credit protected amounting to more than EUR1.75 million (USD1.9 million).