Sapura Energy subsidiaries served with winding-up petitions

The board of directors of Malaysia’s Sapura Energy said in a statement earlier this week that a number of wholly-owned subsidiaries of the company have been served with court-mandated winding-up petitions.

The concerned subsidiaries include Sapura Fabrication (SFSB), Sapura Project Services (SPSSB), Sapura Subsea Services (SSSSB), Sapura Offshore (SOSB), and Sapura Pinewell (SPSB).

The petitions came in the wake of these subsidiaries’ failure to pay separate settlement claims that had earlier been agreed upon with various parties for the provision of materials, equipment, and vessel chartering and logistics services.

Sapura Energy’s board said the case management and hearing dates for some of the petitions have already begun while others are scheduled to commence in the coming weeks until the middle of May 2022.