Swissco Holdings has had its application to be placed under judicial management approved by the Singapore High Court.
Judicial management is a process that gives a financially distressed company leeway to return to financial health under court supervision.
The Singapore High Court approved EY’s Angela Ee and Purandar Rao as Swissco Holding’s judicial managers.
The company made the application late last year after it reached an impasse with major lenders about restructuring its finances.
