OIL
and gas contractor Swiber Holdings has filed a winding-up application, and its
directors have resigned to pursue their own interests, the company announced on
Thursday.
The company has also filed
an application to place the company under provisional liquidation. Cameron
Lindsay Duncan and Muk Siew Peng have been appointed as the joint and several
provisional liquidators of the company.
The winding-up application
will be heard in court on Aug 19.
Executive director and
vice chairman Francis Wong, executive director and chief financial officer
Leonard Tay and executive director Nitish Gupta have all resigned "to seek
new opportunities".
The
company said in a separate announcement on Thursday that it was facing letters
of demand for about US$25.9 million in total, and that it is seeking legal
advice.
On Monday, the company
said it was facing just US$15.2 million in outstanding demand letters for which
legal proceedings had not commenced, and US$4.76 million of outstanding demand
letters that had not been paid off.
Shares of Swiber have been
halted from trading since July 27.
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