Swiber Holdings has received an extension of judicial management from the Singapore High Court for further 180 days.
The company along with its subsidiary Swiber Offshore Construction will see the judicial management extended until October 01, 2017.
To remind, Swiber has been put under judicial management in October 2016. The Court appointed KPMG as the judicial managers for the company.
Swiber has also been granted an extension for the company to send creditors a statement of proposals and summon a creditors’ meeting, until March 23, 2017.
Earlier this week, the company informed that the creditors have started the voluntary liquidation of Swiber’s wholly owned subsidiary Swiber Offshore Marine (SOM).
KPMG have been appointed as the provisional liquidator of SOM.