Swiber Holdings creditors have on Monday started the voluntary liquidation process of Swiber’s Singapore-based wholly owned subsidiary Swiber Offshore Marine (SOM).
KPMG have been appointed as the provisional liquidator of SOM, after they became judicial managers of Swiber back in October.
To remind, Swiber has been put under judicial management following the withdrawal of provisional liquidation application that the company filled in July.
Last week, the company sold ‘ Sea Horizon ’ vessel to WAG SPV I to repay debt to DBS Bank.
The vessel was sold for USD 10.25 million.