Singapore-Based Oil Field Servicer Files For Ch. 11 In NY

Law360, New York (March 20, 2017, 8:29 PM EDT) -- Singapore's Ezra Holdings Ltd., an offshore oil and gas industry contractor, filed for Chapter 11 in New York bankruptcy court on Saturday, just months after posting an annual net loss of $850 million, saying its dire financial straits have been caused by "significant weakness and volatility in the oil price environment."

The holding company and affiliated debtors EMAS IT Solutions Pte. Ltd. and Ezra Marine Services Pte. Ltd. filed voluntary Chapter 11 petitions in an attempt to restructure more than $100 million in secured liabilities....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.