Ezra Holdings is to be wound up after managers failed to find buyers or investors for the Singapore-headquartered offshore vessel owner and builder
According to an announcement on 7 January 2022, the judicial managers have filed applications to discharge the management and liquidate the group. Any parties wishing to object have until 12 January 2022 to file an affidavit. If there is one, the judicial managers must file a reply affidavit by 14 January 2022.
Any submissions and authorities are to be tendered to court by 17 January 2022. The court has fixed a hearing of the judicial managers’ applications on 21 January 2022.
Ezra Holdings had grown to become a leading offshore support vessel owner and operator in the Asia Pacific region. Its subsidiary EMAS Offshore offered offshore support, accommodation, construction and production services to energy companies supporting exploration, development, production and decommissioning stages of the oilfield lifecycle.
Its main operations were in Brunei, India, Indonesia, Malaysia, Philippines, Vietnam and Thailand.
Ezra Holdings also included Triyards, which fabricated self-elevating, mobile offshore units and offshore vessels in three yard facilities in Vietnam and the US.
This announcement comes just weeks after another Singapore-registered offshore vessel operator Ezion Holdings announced it would be liquidated.
At the end of 2021, Ezion said it was unable to find investors or pay its growing debt mountain. Its remaining board members decided liquidating the company was in the best interests of its creditors as “the most time-efficient and cost-effective manner to realise value from the remaining assets of the company”.
Ezion’s main holding was Teras Offshore, which specialised in marine logistics and support services to offshore oil, gas and renewables. It operated liftboats and jack-up rigs to support projects in Asia.
Teras Offshore developed, owned, chartered, managed and operated those strategic offshore assets.
© 2023 Riviera Maritime Media Ltd.