Swiber Holdings’ judicial managers have called on creditors to vote in favour of a Seaspan-backed restructuring proposal.
Some 1,200 creditors are eligible to vote on the proposal which will be presented to them at a meeting of creditors on 29 may 2019.
Bob Yap, head of restructuring at KPMG in Singapore, said that creditors “could potentially obtain better recovery through the restructuring proposal as compared to a liquidation scenario”.
