Bankruptcy judge protects Ezra’s assets

Bankruptcy judge protects Ezra’s assets

A bankruptcy judge in the US ruled yesterday no company can seize any assets belonging to troubled Singaporean offshore operator Ezra Holdings. Moreover, no new lawsuits can be filed for the time being.

Ezra filed for Chapter 11 bankruptcy protection earlier this month in the wake of its joint venture EMAS Chiyoda Subsea also filing in February. It becomes the latest high profile casualty among Singapore’s battered offshore scene which has also seen Swiber and Swissco seek judicial management on home soil in the past nine months.

Additionally, Chan Eng Yew has resigned from his role of Ezra Group CFO. Chan is also the CEO of Triyards, an Ezra Group company.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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