December 16, 2008 / 9:27 AM / 11 years ago

Norway fish farmer halts payments, shares suspended

OSLO, Dec 16 (Reuters) - The board of Norwegian salmon farming company Lighthouse Caledonia ASA LHC.OL froze payments to creditors due to constrained liquidity and asked for its shares to be suspended on the Oslo bourse on Tuesday.

The company, whose main operations are in Scotland, went through a restructuring phase in 2008.

“A recent reduction in credit terms from one key supplier — with credit time being reduced from 90 to 30 days — caused by the unresolved long-term financing of the company, has resulted in a constrained liquidity situation,” it said in a statement.

Lighthouse Caledonia said it would maintain a close dialogue with lenders, owners, potential investors and its main suppliers to seek to resolve the situation.

At the company’s request, the Oslo stock exchange suspended its shares until further notice. (Reporting by Richard Solem; Editing by Jon Loades-Carter)

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