Fibrechem's liquidators, potential investors mulling over reverse takeover

FIBRECHEM Technologies said on Friday that its provisional liquidators have met potential investors to consider potential opportunities for a reverse takeover.

The company, which is currently exploring a reverse takeover after being placed under provisional liquidation, said the parties appear to remain cautious while citing an uncertain economic climate.

Thus, the provisional liquidators have obtained approvals from the Bermuda Court for a series of adjournments on the liquidation of the company. This has been done with majority support from creditor banks, it said.

The latest of such extensions was obtained on April 21, 2017, for extension till Oct 20, 2017.

The company has been suspended from trading since Feb 25, 2009.