Triyards receives summons to be placed under judicial management

TROUBLED marine operator Triyards Holdings has received an originating summons and supporting affidavit from OCBC for the company to be placed under judicial management, the company said in a Singapore Exchange filing on Friday evening.

OCBC is also seeking the appointment of interim judicial managers over the company before the judicial management application is heard. A pre-trial conference for the application is to be held on Nov 28, but no hearing dates have been fixed yet for the judicial management and interim judicial manager applications.

Triyards said it is assessing the impact of the applications and taking legal advice. It will make further announcements as and when there are any material developments.

Triyards shares have been suspended from trading since September 2017.