Swiber Drops Liquidation Plans Following Talks With Creditor – Bloomberg

Liquidation

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…