Creditor may drop winding-up action against Emas AMC

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.