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High Court dismisses Ezion bondholder's originating summons

He had sought a court declaration that Ezion's shares had ceased trading on SGX

Ann Williams

Published Fri, Nov 24, 2017 · 09:50 PM

Singapore

OFFSHORE and marine firm Ezion Holdings said on Friday that an originating summons taken out by a substantial bondholder has been dismissed by the Singapore High Court.

The bondholder, Ravi Murarka, who owns a substantial share of the liftboat operator's tranche of S$120 million bonds backed by DBS Bank, had served Ezion a redemption notice in September, citing the bond clause that he can demand to be paid back in full "in the event that the shares of the issuer cease to be listed or traded".

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