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Claims against Swiber rise to US$197m

More claim filings expected against distressed O&M group ahead of the Oct 6 hearing of its application for judicial management

Published Mon, Aug 29, 2016 · 09:50 PM

judicial management

Singapore

CLAIMS against Swiber Holdings have ballooned further ahead of the Supreme Court's Oct 6 hearing of the distressed offshore and marine group's application for judicial management.

In a late night filing on Friday last week, Swiber said that the total sum of claims received by the company as at Aug 25 was US$197 million. This was up from US$135.9 million a week ago.

The Business Times understands that a sizable amount of these claims may have stemmed from trade creditors, likely O&M contracto…

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