Interim judicial managers for Swissco said that court hearings to place the company under judicial management had been adjourned to 21 April in the Singapore High Court.
In a disclosure on the Singapore Exchange the judicial managers said that by 17 February 12 expresssions of interest had been received in the some or all of the assets of Swissco and subsidiary Swissco Offshore. Following due diligence five indicative bids had been received. Further due diligence is to be conducted with formal bids expected in the second week of June.“The outcome of this exercise may affect the Interim Judicial Managers' assessment as to the prospects of one of more of the objectives of a judicial management being achieved,” it said.
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