Swiber seeks to extend period of judicial management

Swiber seeks to extend period of judicial management

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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