More pressure on Swiber as $200M in claims piles-up

Singapore’s troubled offshore services company Swiber Holdings has seen a total sum of claims against it reach almost $200 million.

Offshore Energy Today reported earlier that Swiber had applied to wind up the company following demands from creditors, and requested to be placed under provisional liquidation back in July.

The company withdrew its wind up application several days later and opted to go under judicial management.

Bob Yap Cheng Ghee, Tay Puay Cheng and Ong Pang Thye of KPMG Services were appointed as Interim Judicial Managers of Swiber by the Singapore High Court.

Swiber had said that claims against the company, as of August 4, summed up to $99 million.

However, the sum of the claims has increased by almost $100 million in the space of three weeks. On Friday, August 26, Swiber stated that claims against the company now stand at around $197 million.

Swiber added that it is currently seeking legal advice on the above claims.

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