Corporate digest

Pacific Radiance

THE offshore marine services firm announced on Wednesday that it has been granted a moratorium on legal actions taken by its creditors. The application, made on July 24, was to protect Pacific Radiance against any attempts by its creditors to enforce their claims while the company is in discussions with stakeholders on restructuring.

In granting the moratorium on Wednesday, the court said it does not preclude DBS Trustee Limited from enforcing its rights regarding S$100 million 4.30 per cent notes due 2018, for which it is trustee.