To recap, New York Stock Exchange-listed Seaspan last year agreed to invest US$200 million ($276 million) in Swiber – subject to creditor, shareholder and regulatory approvals, among others.
SINGAPORE (May 30): Creditors of Swiber Holdings and its main subsidiary, Swiber Offshore Construciton (SOC), have approved a restructuring proposal which the group says will take it one step nearer to implementing a restructuring with equity investment from Seaspan Corporation.
The news comes nearly three years after Swiber Holdings filed for insolvency.
