Swiber’s judicial managers get time extension to negotiate with creditors

SINGAPORE (Dec 2): Swiber announced that its judicial managers have applied for and received an extension of time until March 23, 2017 from the Singapore High Court to send creditors a statement of proposals and summon a creditors’ meeting.

In its SGX filing, Swiber stated that the High Court has also ordered the judicial management in place for the company and subsidiary Swiber Offshore Construction to be extended from Apr 4, 2017 to Oct 1, 2017.

The judicial managers will be making arrangements to convene an informal creditors’ meeting in Jan 2017, ahead of the formal creditors’ meeting.

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