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Emas Offshore goes under judicial management

PricewaterhouseCoopers have been appointed judicial managers and will seek to achieve the survival of the company, either wholly or partially as a going concern, come to an arrangement with its creditors, and/or produce a more advantageous realisation of its assets than by a winding up action. The company sought to be put under judicial management in July

Various rescue attempts have fallen through, with Emas Offshore previously being linked with Philippines conglomerate Udenna Corp as well as compatriot offshore firm Baker Technologies

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