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Ezra gets nod from US Bankruptcy Court for cross-border protocol on bankruptcy proceedings
THE United States Bankruptcy Court has approved an application by Ezra Holdings for cross-border protocol in relation to the firm's bankruptcy proceedings.
The offshore services provider announced in March that the cross-border protocol application is meant to coordinate the efficient administration of its bankruptcy proceedings in the US and restructuring proceedings in Singapore.
The Singapore High Court approved Ezra's application last month.
Ezra filed a Chapter 11 plan in the US last year after it received two statutory demands from creditors. According to documents filed in the US Bankruptcy Court, the creditors include DBS Bank, OCBC Bank and UOB.