Swiber Lenders in Talks With Firm to Drop Liquidation Bid
- Swiber creditors said to prefer judicial management option
- SGX Oil & Gas Index falls to new low after Swiber statement
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Some of Swiber Holdings Ltd.’s lenders are pushing for the offshore oil and gas services group to continue its business rather than pursue its plans for liquidation to meet creditor demands, according to people familiar with the talks.
The banks are pushing for judicial management in attempts to recover more of their debt exposure to the Singapore-listed company, the people said, asking not to be identified as the discussions are private.