Why did board not consider JM or creditor scheme before winding-up move?

ON July 28 2016, the Singapore market reacted to the shocking news that Swiber Holdings Ltd, a mainboard-listed offshore and marine business, had applied to the High Court of Singapore to voluntarily wind up the company. Swiber had also announced the appointment of provisional liquidators and the resignation of three executive directors. Subsequently, on 29 July 2016, Swiber announced it and its subsidiary, Swiber Offshore Construction Pte Ltd, have taken out applications to place themselves under judicial management.

The news on 28 July badly affected the share …