SINGAPORE (Oct 25): Embattled offshore and marine service provider Swissco announced that the statutory demand by X-Drill Holdings has been withdrawn.

(See also: Swissco defaults on interest payment; suspends trading)

In a SGX filing, the company stated that it had applied to the High Court of Singapore to restrain X-Drill from proceeding with any winding up application on the basis that it was not entitled to make a statutory demand against Swissco, as it was not a creditor.

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