Corporate digest

Pacific Radiance

PACIFIC Radiance Ltd has applied for court protection against attempts by creditors to enforce their claims while the company is in discussions with stakeholders on restructuring, the offshore marine services firm announced on Tuesday.

If granted, the requested moratorium on legal actions will take effect from the date that the application is granted until Dec 11, or until further order, giving the group an opportunity and adequate time to continue finalising the restructuring and investment, Pacific Radiance said.