Swiber Holdings announced on July 28 that it had applied to wind up the company. The following day, it placed itself under judicial management.
The offshore services provider reported a quarterly loss of US$200,000 (S$270,000) in May. By late last month, Swiber had received demands for claims of around US$50.5 million.
Share trading has been suspended since July 27. Swiber's woes have raised questions about banks' loan exposure to oil and gas firms. DBS said it has a $700 million exposure to Swiber.