Ezra noteholders seek rights issue, cash from escrow
Observers warn against getting hopes up on recovering most of what they are owed
Add BT as a preferred source
Singapore
EZRA Holdings' noteholders want the founding Lee family behind the debt-laden listed group to consider a rights issue as a restructuring plan is being drawn up for its Chapter 11 filing under the US bankruptcy code.
Noteholders also sought clarity on whether an escrow account the group pledged to set up for their benefit in March 2016 can ring-fence cash for the purpose of repaying the interest or principal sum of the S$150 million note issue.
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Singapore releases Economic Strategy Review Final Report with more detailed proposals
Ringgit sinks to seven-month low despite record bond inflows as Fed fears dominate
Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass
