Singapore’s Ezra Holdings has been granted an extension by the United States Bankruptcy Court giving it until February to file a plan of reorganisation.
Ezra has until February 19 to file a reorganisation plan and an exclusive period through to April 12 in which to solicit acceptance of the plan.
Erza filed for chapter 11 bankruptcy protection in the Southern District of New York bankruptcy court last March, just weeks after subsidiary Emas Chiyoda Subsea filed for chapter 11 in Houston, Texas.
EMAS Chiyoda Subsea has since been sold off to Subsea 7, while another subsidiary Emas Offshore is working on a restructuring deal involving new investors.
Ezra’s largest unsecured creditors include DBS Bank, OCBC Bank and HSBC Institutional Trust Services.
