judicial management

Shares in Hiap Seng have halted trading since Nov 28, 2019.

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.

SINGAPORE (Nov 17): Ezion Holdings is said to be negotiating with Swissco Holdings to acquire the latter’s share in the three drilling rigs that are owned under 50-50 joint ventures between the two companies.

SINGAPORE (Nov 15): Singapore rig supplier Swissco Holdings is seeking court-supervised management, saying it is at an impasse with its major lenders on a proposed debt restructuring.

SINGAPORE (Sep 16): Swiber Holdings’ interim judicial managers said on Friday that the group has received a total sum of US$231.4 million ($315.6 million) in claims as of Sept 15.

SINGAPORE (Sept 5): Swiber Holding’s interim judicial managers (IJMs) said on Friday that the oil and gas company could be saved as its major suppliers, vendors and creditors have indicated interest in aiding the group to complete its ongoing projects.

SINGAPORE (Aug 29): Swiber Holdings announced that claims on the company have reached US$197 million ($268 million) on Friday.

SINGAPORE (Aug 3): UOB Kay Hian is turning negative on the offshore and marine (O&M) sector, downgrading its rating to “underweight” on mounting liquidity pressure on the sector amid a prolonged downturn.

SINGAPORE (July 29): Some of Swiber Holdings’ lenders are pushing for the offshore oil and gas services group to continue its business rather than pursue its plans for liquidation to meet creditor demands, according to people familiar with the talks.