Swiber's judicial managers given more time to deal with creditors

THE Singapore High Court on Monday granted Swiber Holdings' judicial managers (JMs) an extension of time until Oct 21, 2017, to send a statement of proposals to creditors and summon creditors' meetings.

This follows an application by the JMs for the time extension.

The High Court also extended the validity of the orders placing the companies in judicial management to March 21, 2018, said Swiber in an announcement on Singapore Exchange.

This is in relation to the orders of the High Court on Oct 6, 2016, to place the company and its subsidiary, Swiber Offshore Construction, into judicial management.