Swiber JMs seek more time for statement of proposals to creditors and meeting

TROUBLED Singapore-listed offshore and marine group Swiber Holdings said on Wednesday its judicial managers (JMs) have filed applications for the extension of time until Oct 21, 2017, to send to creditors a statement of proposals and summon a creditors' meeting.

The JMs from KPMG are also seeking an extension of the judicial management period to March 21, 2018.

The applications are fixed to be heard at Singapore's High Court on July 10, 2017.

The High Court had on March 8, 2017, granted Swiber an extension of time until July 21, 2017, for the JMs to send to creditors a statement of proposals and summon a creditors' meeting.

Swiber and its subsidiary, Swiber Offshore Construction, were placed under judicial management under the orders of the High Court on Oct 6, 2016.