SINGAPORE: Ezra Holdings and two other entities, Ezra Marine Services (EMS) and EMAS IT Solutions (EMIT), filed for Chapter 11 protection with the US Bankruptcy Court on 18 March.
According to media reports, court filings showed that DBS has the largest exposure with total secured and unsecured claims at US$328m, followed by OCBC at US$280m and UOB at US$33m.
Maybank Kim Eng says Ezra’s associate, EMAS Chiyoda Subsea (ECS), also filed for Chapter 11 protection on 27 Feb, with unsecured claims of c.US$100m in total for DBS and OCBC, based on court filings. Its subsidiaries EMAS Offshore and Triyards were suspended and halted from trading, respectively.
