Swissco halts trading over debt plan
OFFSHORE services provider Swissco Holdings' shares have been suspended since yesterday morning as the group works on a debt restructuring plan, it said in a Singapore Exchange filing.
It said it had met its noteholders on Oct 10
and will have "further discussions" with them "next week".
In a separate filing, Swissco said a joint venture company it owns half of
has begun arbitration in Hong Kong in a bid to
claim US$26.1 million (S$36 million).
Its wholly owned unit has also begun arbitration in Hong Kong attempting to claim US$5.2 million, and that Swissco has received
a legal letter demanding US$1.7 million.
THE BUSINESS TIMES