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Swiber JMs urge creditors to accept Seaspan rescue deal
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Annabeth Leow
Published Tue, May 7, 2019 · 09:50 PM
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Singapore
WITH New York-listed Seaspan Corp dangling a rescue deal for debt-racked Swiber Holdings, the offshore and marine services provider's creditors are headed for a vote on the proposed restructuring on May 29.
Judicial managers have recommended that the creditors opt for the deal, arguing that the likely alternative is liquidation - which could leave unsecured creditors with nothing.
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