Restructuring Singapore OSV owner Pacific Radiance has gained more time to complete a buy-out by a mystery investor.
The company said it has extended debt moratoria that were due to expire on Monday.
The country's court has extended the agreement to 14 March.
Pacific Radiance will seek more time at a hearing on that date, it added.
Last month, the company said an unnamed owner had agreed to buy 100% of a new company into which it will put $180m of its assets, in return for Pacific Radiance shares that will see it take a "significant shareholding."
Pacific Radiance had announced a new "anchor" partner in June 2018 that was willing to pump in $85m, but some of the investors involved in this deal have pulled out or reduced their committed amounts.
The owner applied for court protection earlier in 2018 in the OSV downturn.
