Swiber Holdings Ltd., the Singapore-based offshore oil and gas services group, said it is dropping liquidation plans and intends to restructure its business following talks with the companys major financial creditor. Swiber plans to operate under so-called judicial management, according to a statement to the Singapore exchange Friday. The arrangement would allow the company to…
BC Advantage Funds Receives Shareholder Approval for Voluntary Liquidation and Dissolution BC Advantage Funds (VCC) Ltd. July 29, 2016 20:14 ET NORTH VANCOUVER, BRITISH COLUMBIA–(Marketwired – July 29, 2016) – B.C. Advantage Funds (VCC) Ltd. (the “Company”) announced today that at…
SINGAPORE – Offshore marine group Swiber Holdings on Friday (July 29) took out an application to place itself and its subsidiary Swiber Offshore Construction (SOC) under judicial management and interim judicial management. It had announced its winding-up application on Thursday (July 28), sending shock waves through the market. Swiber said that on Thursday, the directors…
Australia’s corporate watchdog has alleged internet search company Uglii’s multibillion-dollar earnings projections are a sham and the existing managers should be removed to protect shareholders and creditors. Counsel for the Australian Securities and Investments Commission, Michael Pearce, QC, told a Federal Court hearing on Friday the Victorian firm was a house of cards built on wildly inflated and…
Former Spazio Casa director Paulo Cozzolino wrongly accused a former staff member of stealing products and selling them online. An application has been made to put bathroomware company Spazio Casa into liquidation. According to a public notice, an application for liquidation was filed on July 6. The company could not be reached for comment and…
Swiber Holdings Ltd. filed a petition to wind up and liquidate the company after facing demands from creditors amid a slump in offshore oil and gas businesses. The Singapore stock exchange said its investigating potential lapses in disclosure. The company said it made the application on July 27 to a Singapore high court, with a…
Former Spazio Casa director Paulo Cozzolino wrongly accused a former staff member of stealing products and selling them online. An application has been made to put bathroomware company Spazio Casa into liquidation. According to a public notice, an application for liquidation was filed on July 6. The company could not be reached for comment and…
Former Spazio Casa director Paulo Cozzolino wrongly accused a former staff member of stealing products and selling them online. Bathroomware company Spazio Casa has been placed into liquidation. According to a public notice, an application for liquidation was filed on July 6. The company could not be reached for comment and the law firm representing…
The cost of restructuring at Virgin Australia kept the airline underwater in the final quarter of 2016. The underlying loss before tax of $21.9 million for the three months was an improvement of $15 million on the corresponding period the year before. The result includes the impact of previously announced charges, mainly restructuring. For the…
SINGAPORE – Mainboard-listed offshore services firm Swiber Holdings has made an application to wind up the company and place it into provisional liquidation, it announced on Thursday (July 28). The High Court of Singapore has appointed Cameron Lindsay Duncan and Muk Siew Peng as the joint and several provisional liquidators of the company. The winding-up…