Ezra receives statutory demand for claim of over US$3.2m

OFFSHORE and marine group Ezra Holdings said on Thursday night that it has received a statutory demand for a claim from the solicitors of VT Halter Marine Inc (VTH).

The claim is for a sum of over US$3.2 million together with accruing interest that is allegedly due and owing by Ezra as the parent corporate guarantor for the loan agreement entered into on Feb 26, 2015, between VTH and Emas Chiyoda Subsea Inc (ECS US), formerly Emas AMC Inc.

ECS US is a wholly owned subsidiary of Emas Chiyoda Subsea (ECS), Ezra's 40 per cent owned associate.

The statutory demand stated that if payment for the sum demanded is not paid directly to VTH within 21 days, VTH may apply for Ezra to be wound up on the ground that Ezra is unable to pay its debts.

Ezra said it is seeking legal advice in respect of the statutory demand and assessing the impact on the group.