Singapore Efficiency Even Extends to Its Bankruptcy Laws

By Christopher Langner (Bloomberg Gadfly) -- When it comes to matters legal or bureaucratic, Singapore is swift to act. Bankruptcy, sometimes, can be even faster. Ezra Holdings Ltd., a Singapore publicly traded oil services group, and two of its affiliates, Ezra Marine Services Pte and EMAS IT Solutions Pte, filed for Chapter 11 protection over the weekend in a U.S. … [Read more...]

Ezra Bankruptcy Adds to Singapore’s Sorry Offshore Marine Story

By Aradhana Aravindan and Anshuman Daga SINGAPORE, March 20 (Reuters) - Oilfield services provider Ezra Holdings Ltd's decision to file for U.S. bankruptcy protection gave investors another cause for concern on Monday as its downfall added to troubles in Singapore's offshore marine sector. Ezra is one of several marine firms hit by a downturn in oil prices since 2014 that … [Read more...]

Bankrupt: Singapore’s Ezra Holdings Files Chapter 11

by Tom Hals (Bloomberg) Oilfield services firm Ezra Holdings Ltd (EZRA.SI) of Singapore filed for U.S. Chapter 11 bankruptcy on Saturday, blaming a prolonged slump in the energy industry. The company had been trying to restructure and said in February it faced a "going concern issue" if it did achieve a favorable outcome. Ezra is one of several Singapore offshore and … [Read more...]

Singapore’s Stock Rally Looks to Be Floating on Foam

By Christopher Langner (Bloomberg Gadfly) -- Read the shipping and offshore oil industry news in Singapore and you'd be forgiven for imagining the country's stock market must also be in the doldrums. A string of restructuring and bankruptcy proceedings was capped last week with reports that distress at oil-services company Ezra Holdings Ltd. has deepened. Ezion Holdings … [Read more...]

Singapore’s Ezra Says it Faces Court Application to Wind Up Unit of Subsea JV

SINGAPORE, Feb 15 (Reuters) - Debt-laden Singaporean oilfield services firm Ezra Holdings Ltd said late on Tuesday that a creditor of a business owned by an Ezra joint venture had filed a court application requesting that the JV's subsidiary be wound up. Ezra said Necotrans, an Africa-focused logistics firm, is a creditor of EMAS-AMC Pte Ltd, a wholly owned subsidiary of the … [Read more...]