AMTC in breach of agreement: Swiber IJMs

Singapore

The interim judicial managers (IJMs) of Swiber Holdings said in a statement issued on Thursday that AMTC is in breach of the terms of a subscription agreement for preference shares in Swiber Investment Ltd (SIL).

The statement also said no representative of AMTC has contacted the IJMs following AMTC's claim in an Aug 6 report in The Business Times that it has flown a representative to Singapore last week to work on the deal with Swiber. AMTC also told BT the deal with Swiber was still alive.

The statement reiterated that SIL…