Norwegian shipowner IM Skaugen has filed for restructuring in Singapore seeking court protection from its creditors.

Financially strapped Malaysian offshore vessel builder and owner Nam Cheong has survived to fight another day.

Singapore is seeking to become a debt restructuring centre alongside New York and London with changes to its Scheme of Arrangement system to make it closer to US Chapter 11 filings.

Alternative investment firm Uni-Asia Holdings, which operates dry bulk vessels via Uni-Asia Shipping, has commenced an internal restructuring by a scheme of arrangement.

Alternative investment firm Uni-Asia Holdings, which operates dry bulk vessels via shipowning arm Uni-Asia Shipping, has proposed an internal restructure by way of a scheme of arrangement.

Torm is moving ahead with filing its scheme of arrangement to restructure its business despite not getting 100% approval from its lenders to date.