Singapore OSV owner EMAS Offshore has revealed two banks have rejected its current restructuring plan.
DBS Bank and United Overseas Bank (UOB) have filed joint affidavits in response to scheme applications lodged by the company in court.
They "expressed that they are not prepared to agree to the terms of the restructuring proposals" as they currently stand, EMAS said.
But it added that the banks are "prepared to continue discussions" on a revised proposal or any other proposal from investors.
