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Swiber IJMs propose haircut of over US$140m

Under cash flow plan, about US$11m will go to accounts payable to trade creditors owed over US$154m

39371179.3 (39421903) - 11_08_2016 - SINGAPORE-LENDING-BANKING-OIL.jpg
Swiber group's interim judicial managers (IJMs) are said to have tabled a proposal in which trade creditors will take a substantial haircut in excess of US$140 million in support of reversing negative margins and cash flows from secured projects.

Singapore

SWIBER group's interim judicial managers (IJMs) are said to have tabled a proposal in which trade creditors will take a substantial haircut in excess of US$140 million in support of reversing negative margins and cash flows from secured projects.

Sources said the IJMs, in...

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