Swiber Holdings has sought to extend its period under judicial management, Singapore’s version of bankruptcy protection.
The offshore firm, and its subsidiary Swiber Offshore Construction, have been under judicial management since last October. The company is now seeking to extend its court protection period through to March 21 next year.
The Singapore High Court will make a decision on this application on July 10.
Swiber was the first of a number of Singapore offshore names to seek court protection amid the protracted slump in global oil prices, with many others following suit including Swissco and Ezra.