Swissco unit receives notice of appointment of receivers for vessel

A STEP-DOWN subsidiary of Swissco Holdings Limited, Liftboat 1 International, has received a notice of appointment of receivers over its vessel Jinshan 1, the company's interim judicial managers announced on Wednesday.

Andrew Grimmett and Lim Loo Khoon were appointed as joint and several receivers in the Dec 22 notice issued by solicitors for DBS Bank as the lender and mortgagee of the vessel.

The interim judicial managers are taking advice and considering their options on the notice, and will provide further updates as appropriate, the announcement said.