Swiber's judicial management extended for 180 days more

It will only be in force until October next year.

Swiber Holdings announced that the Singapore High Court has granted an extension of time until 23 March 2017 for the judicial managers to, interalia, send to creditors a statement of proposals and summon a creditors’ meeting.

In an SGX filing, it also said that the Court also ordered that the validity of the orders placing Swiber Holdings and Swiber Offshore Construction into judicial management shall be extended to remain in force for a further 180 days from 4 April 2017, until 1 October 2017.

Further to the above, the judicial managers will also be making arrangements to convene an informal creditors’ meeting in January 2017, ahead of a creditors’ meeting.