Pacific Radiance says hearing to extend again debt moratorium set for April 18

SINGAPORE - OFfshore marine services firm Pacific Radiance on Tuesday (April 16) said the further hearing of applications for a debt moratorium extension has been fixed for 10am on April 18.

In March this year, the Singapore High Court granted Pacific Radiance an extension of a moratorium against attempts by creditors to enforce their claims, while the company is in discussions with stakeholders on its debt restructuring.

The moratorium has already been extended from March 14 to April 18.

Most recently last week, the group's independent auditor, Ernst & Young, declined to express an opinion on the firm's 2018 financial results, noting that it is unable to obtain sufficient evidence to conclude if the company's going concern assumption is appropriate.

Trading of the company's shares has been voluntarily suspended since Feb 28 last year.