Ezra Holdings Ltd., a Singapore-listed offshore services group, filed for bankruptcy protection in the U.S. from hostile creditors as the energy support sector struggles from three years of weak oil prices, Bloomberg News reported today. Ezra and two affiliates, Ezra Marine Services Pte. and EMAS IT Solutions Pte., filed for chapter 11 protection on March 18 in U.S. Bankruptcy Court in White Plains, New York. Ezra listed consolidated long-term assets with a value of $1.3 billion and current assets of $623 million for the fiscal year ended Aug. 31, 2016, according to court papers. Read more.
The featured keynote at ABI's 2017 Annual Spring Meeting will be Spencer Abraham, former U.S. Senator and former U.S. Secretary of Energy. Additionally, a panel at the Annual Spring Meeting will be discussing legal and business developments in E&P cases. Click here to register!
Get a better understanding of what happens when an oil, gas or other natural resources company goes bankrupt. Order your copy of ABI's revised and expanded When Gushers Go Dry: The Essentials of Oil & Gas Bankruptcy, Second Edition.
