Friday 29 Mar 2024
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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.

To recap, New York Stock Exchange-listed Seaspan last year agreed to invest US$200 million (S$276 million) in Swiber – subject to creditor, shareholder and regulatory approvals, among others... (Click here to read the full story)

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