The board of directors of Singapore-based Swiber Holdings has applied to wind up the company.
A hearing will be held on 19 August. The firm also applied to put the company into provisional liquidation. Staff from KordaMentha have been appointed provisional liquidators.
Several senior staff also resigned, including executive director Nitish Gupta, CFO Leonard Tay and Vice Chairman Francis Wong.
Swiber, founded in 1996, was an offshore construction and support services provider, providing engineering and construction services.
It has 13 vessels and had about 2700 staff. The firm was listed on the Singapore Exchange in 2006.