VT Halter Marine tells Ezra Holdings to pay upCompany News // March 13, 2017
Ezra Holdings says the company received a statutory demand from the solicitors of VT Halter Marine. The demand gives Ezra Holdings 21 days to pay the company or be wound up.
The demand is in relation to a claim made by VT Halter Marine against the Ezra Holdings for payment of a sum of US$3,207,663.36 together with accruing interest that is due from Ezra Holdings as the parent corporate guarantor for a loan agreement entered into between VT Halter Marine and EMAS Chiyoda Subsea Inc, formerly known as EMAS-AMC Inc (ECS US) in February 2015. ECS US is a wholly-owned subsidiary of EMAS Chiyoda Subsea Limited, a 40 per cent-owned associated company of the company that recently applied for bankruptcy protection.
The statutory demand stated that if payment for the sum demanded is not paid directly to VT Halter Marine in 21 day VTS Halter Marine may apply for the company to be wound up on the grounds that Ezra Holdings is unable to pay its debts.