Ezra's revamp plan sees no more than 2% recovery for unsecured creditors

Singapore

EZRA Holdings' debt restructuring plan projects that unsecured creditors can recover only up to 2 per cent of claims ranging from US$1.67 billion to US$2.32 billion from divestment of assets.

The Business Times understands that holders of Ezra's Singapore dollar medium-term notes - who are also unsecured creditors - will recover monies set aside under an escrow account, but only after claims filed by the notes trustee have been settled.