Creditors of Singapore based Swiber Holdings Limited (SHL) and its main subsidiary, Swiber Offshore Construction (SOC), on Wednesday voted in favor of a restructuring proposal which will take the offshore services company one step nearer to implementing a restructuring with equity investment from New York-listed Seaspan Corporation.
The approvals came nearly three years after SHL filed for insolvency. Creditors of SHL and SOC gave the go-ahead for two resolutions, the first being the approval of the restructuring proposal which stemmed from the investment agreement with Seaspan in relation to their proposed investment of up to US$200 million, and the second being the approval of professional fees during the interim judic…
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