Hearing for Swissco interim judicial management to take place on Nov 25

HEARING for beleaguered vessel operator Swissco Holdings to have interim judicial managers appointed will take place on Friday, Nov 25, at 10am.

The company announced this in a Tuesday filing to the Singapore Exchange after market close.

On Monday, both Swissco and its wholly owned subsidiary Swissco Offshore (Pte) Ltd said that they had filed their judicial management applications on the same day.

Swissco said last week that it would file for judicial management after its main lenders rejected its debt restructuring plan. The group's largest bank lender is United Overseas Bank, followed by DBS Bank.