S’pore’s Ezra files for bank­ruptcy in US

New Straits Times - - Business -

SIN­GA­PORE: Ezra Holdings Ltd, a listed oil­field ser­vices group, filed for bank­ruptcy in the United States after weeks of fac­ing hos­tile ac­tions from cred­i­tors at home and abroad as it strug­gles to re­cover from a slump in oil prices over the past three years. The com­pany filed vol­un­tary pe­ti­tions for re­or­gan­i­sa­tion un­der Chap­ter 11 of the US Bank­ruptcy Code, ac­cord­ing to a stock ex­change fil­ing yes­ter­day. Ezra will hold an in­for­mal meet­ing as soon as “rea­son­ably prac­ti­ca­ble” to up­date and pro­vide fur­ther in­for­ma­tion on the Chap­ter 11 fil­ing to hold­ers of its debt, it said in a sep­a­rate state­ment.

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