Volumes have fallen even further since last year after a crash penny stocks - the bourse's most actively traded shares. - AFP
SINGAPORE: Ezra Holdings Ltd, a Singapore-listed oilfield services group, filed for bankruptcy in the United States after weeks of facing hostile actions from creditors at home and abroad as it struggles to recover from a slump in oil prices over the past three years.
The company filed voluntary petitions for reorganisation under Chapter 11 of the US Bankruptcy Code, according to a stock exchange filing yesterday. Ezra will hold an informal meeting as soon as “reasonably practicable” to update and provide further information on the Chapter 11 filing to holders of its debt, it said in a separate statement. The company has also reached out to and intends to work with the Securities Investors Association (Singapore).
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