
Swiber stuns O&M and banking giants with wind-up decision
A hearing will commence on 19 August.
Analysts and market players were stunned as Swiber announced its winding-up application amid quarters of slowdown brought about by the crash in oil prices.
According to an announcement by Swiber, the application has been fixed for hearing on 19 August 2016.
Additionally, the press release said the company has filed an application to place the company in provisional liquidation.
“The High Court of Singapore has today appointed Mr Cameron Lindsay Duncan and Ms Muk Siew Peng, care of KordaMentha Pte Ltd, as the joint and several Provisional Liquidators of the Company,” the release said.