Ezra seeks plan extension to address capital structure, review debtors

By Caroline Salls

Pittsburgh, June 29 – Ezra Holdings Ltd. requested an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, Ezra asked the court to extend its exclusive plan-filing date by 120 days to Nov. 13 and the solicitation period by 120 days to Jan. 12, 2018.

“Development of a Chapter 11 plan requires addressing the debtors’ complex capital structure and the need to review and understand which of the debtors and their respective affiliates may add value to an exit strategy,” Ezra said in the motion.

The company said it has met with potential lenders and investors, but to date none of those discussions resulted in a definitive offer.

“Given the challenges facing the oil and gas industry in Singapore as well as the debtors’ business as a service provider for other entities, this process continues but requires more time,” the motion said.

A hearing is scheduled for July 31.

Ezra, a Singapore-based provider of offshore support for the oil and gas industry, filed bankruptcy on March 19. The Chapter 11 case number is 17-22405.

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