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Pacific Radiance’s revamp tests Singapore’s debt restructuring aims

Unlike Ezion and MEO, Pacific Radiance bit the bullet and tabled an investor proposal together with haircuts to its outstanding debts. This is closer to the approach Tidewater took under the protection of the US Bankruptcy Code

Will lenders support or stand in the way of a proposal — that unlike others — seeks debt forgiveness to support the rehabilitation of an industry player still trying to tide itself over a protracted offshore downcycle?

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