Singapore's EMAS Offshore Ltd (EOL) has won six months' shelter from legal action while it restructures its business.
The country's high court ruled on Monday that no receiver or manager can be brought in during that time, and no legal proceedings against two of its subsidiaries, EMAS Offshore and EMAS Offshore Services, can be taken.
Earlier this month, it emerged that Baker Technology and private-equity firm Point Hope were riding to the company's rescue as the white knights behind its restructuring.
