Meeting on Zim restructuring delayed
Israel Corp. said Monday it has postponed a special meeting to consider a restructuring plan for Zim Line from Wednesday until Oct. 28.
The delay will “provide Zim the possibility to complete the settlements of the agreed restructuring plan with the different parties and to enable the company to submit in a supplemental report additional details regarding the settlements,” Israel Corp. said in a brief statement to securities regulators and the Tel Aviv Stock Exchange.
Zim said last month it had reached deals to delay deliveries of four 10,000-TEU ships and nine 12,600-TEU ships until 2014 or 2015. The carrier said that would allow it defer payments due on the ships of up to $2 billion.
Meeting on Zim restructuring delayed
