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Provisions back in focus as Sete Brasil gets bankruptcy filing nod

Keppel says S$230m adequate for now but, like SembMarine, is keeping close watch

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Published Thu, Apr 21, 2016 · 09:50 PM

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    Singapore

    SETE Brasil's bankruptcy filing approved before Thursday trading hours marked the first step forward towards removing the overhang over the biggest rig-building contracts on the order book of Keppel Offshore & Marine and Sembcorp Marine.

    With the path cleared for the restructuring of Sete Brasil, the ball is once again in the court of Keppel O&M and SembMarine on whether further provisions will be made for the contracts from the rig-owning affiliate of Petrobras.

    Keppelsembcorp marine

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