Swiber JMs urge creditors to accept Seaspan rescue deal

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.