Beleaguered Ezra won't pay interest on its $150m notes

It was supposed to be due on April 24.

Offshore marine group Ezra holdings which filed for US bankruptcy protection last month announced that it will not be paying the interest due on April 24 on its $150m 4.875% fixed rate notes due 2018.

The group said this is due to the US bankruptcy code.

“The Company wishes to announce that the interest payment…constitutes pre-Ezra Chapter 11 Filing unsecured claim that the Company is not permitted to make pursuant to the United States Bankruptcy Code,” the group said, "When in doubt as to the action they should take, stakeholders and potential investors should consult their financial, tax or other advisers.”
 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Strides Premier enhances routing with Autofleet tech
The Singaporean taxi operator will utilise Autofleet’s platform to improve route planning and dispatching.
RGE and Singapore Fashion Council launch ‘Responsible Fashion Scholarship’
It is open for Singaporean citizens or permanent residents in full-time undergraduate or postgraduate programs at recognized institutions.
HR & Education