Emas Offshore officially placed under judicial management

Offshore vessel operator Emas Offshore, part of Singapore’s Ezra Holdings, has had its July application to be placed under judicial management approved by the High Court of Singapore.

Goh Thien Phong and Chan Kheng Tek of PricewaterhouseCoopers Advisory Services have been appointed as judicial managers to either ensure the survival of Emas Offshore, find a compromise or arrangement between Emas Offshore and its creditors, or seek a more advantageous realisation of Emas Offshore’s assets than a winding up.

Emas Offshore has been struggling since parent Ezra Holdings filed for chapter 11 in the US in March 2017. Multiple deals to rescue the company have failed, with Udenna in the Philippines and Singapore’s BT Technologies both pulling the plug on potential investments.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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