Ezra Holdings has received another statutory demand, this time from the solicitors of VT Halter Marine (VTH) in relation to a claim made against EMAS Chiyoda Subsea (ECS) formerly known as EMAS-AMC.
EMAS Chiyoda Subsea owes a sum of some US$3.3 million together with accruing interest, in which Ezra acts as the parent corporate guarantor for the loan agreement.
Ezra owns 40 percent of Emas Chiyoda Subsea (ECS), who has already filed voluntary petitions for reorganisation under chapter 11 of the U.S. Bankruptcy Code.
VTH has given Ezra twenty one days to pay up, otherwise VTH may apply for ECS to be wound up on the ground the company is unable to pay its debts.
Subsea World News Staff