Swissco stock suspended amid debt restructuring, lawsuits

OFFSHORE services provider Swissco Holdings' shares have been suspended since Wednesday morning as the group works on a debt restructuring plan, it said in a Singapore Exchange filing.

It said it had met with its noteholders on Oct 10 and will have "further discussions" with them "next week".

In a separate filing, Swissco said a joint venture company it owns half of has begun arbitration in Hong Kong in a bid to claim US$26.1 million; its wholly owned unit has also begun arbitration in Hong Kong attempting to claim US$5.2 million; and that Swissco has received a legal letter demanding US$1.7 million.