Ezra Holdings, currently under chapter 11 protection in the US, has announced that Singapore-based subsidiary Emas Energy Services Pte Ltd was placed under creditors’ voluntary liquidation yesterday.
The move comes after a resolution was passed at an extraordinary general meeting and confirmed by creditors.
KPMG Services have been appointed to act as liquidators for the purpose of winding up the Singapore-based subsidiary, which specialised in well intervention as well as plug and abandonment.
The liquidation will not have any effect on the operations Thai-based subsidiary, Emas Energy Services (Thailand) Limited.
Ezra Holdings has been in a state of limbo since it filed for chapter 11 protection in the Southern District of New York in March 2017. Shipbuilding subsidiary Triyards is also under court protection in Singapore while it looks to restructure, while Emas Offshore is negotiating a restructuring with a potential investor from the Philippines.