Creditor may drop winding-up action against Emas AMC
Claims said to have been settled but other liquidators may step in as substitute plaintiff
Singapore
EMAS Chiyoda Subsea (ECS) - a joint venture in which Singapore-listed Ezra Holdings has a 40 per cent stake - stands to stave off a winding-up petition by a trade creditor against wholly owned Emas AMC Pte Ltd. But the woes for ECS and the subsidiary are far from over as other creditors can also step in to exercise their legal rights to follow through with the liquidation bid.
BT understands that Emas AMC has paid off the claims made by Necotrans Singapore Pte Ltd in support of its winding-up application.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Apple is working on its own AI chip for data centres: WSJ
European oil giants consider shifting their listings to the US
ExxonMobil sees Hess arbitration dragging into 2025, CEO says
Gold prices tick higher on US rate cut bets
Nomura targets 20% revenue growth from global markets business