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moron101 Supreme	19-Mar-2017 15:49        moron101 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Monday halt will be lifted before 8.30am but will have another halt before 9.00am. happyharvest      ( Date: 19-Mar-2017 15:39) Posted: So Mon suspended or open for trading ?
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happyharvest Elite	19-Mar-2017 15:39        happyharvest About Contact  Quote this Post!
x 0   x 0  Alert Admin	So Mon suspended or open for trading ?
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joebloggs Senior	19-Mar-2017 14:38        joebloggs About Contact  Quote this Post!
x 0   x 0  Alert Admin	This was the Newco set-up on 27 Feb 2017, did they know then they were planning on filing for Chapter 11? The Board of Directors (the &ldquo Board&rdquo ) of Ezra Holdings Limited (the &ldquo Company&rdquo or the &ldquo Group&rdquo ) wishes to announce that the Company has incorporated a new wholly-owned subsidiary company, Ezra Holdings (NY) Inc. (&ldquo Ezra Inc.&rdquo ), in the United States of America with 200 shares at a nominal issue price per share. The incorporation of Ezra Inc. is not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of the Company and its Group for the current financial year ending 31 August 2017. The principal activity of Ezra Inc. is management services and investment holdings. None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the incorporation of Ezra Inc..  granto      ( Date: 19-Mar-2017 14:17) Posted: The US thing is very interesting, as it says here its a holding company, didn' t they only just set this up recently? Ezra Holdings files for US bankruptcy protection http://splash247.com/ezra-holdings-files-us-bankruptcy-protection/
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joebloggs Senior	19-Mar-2017 14:37        joebloggs About Contact  Quote this Post!
x 0   x 0  Alert Admin	The company below was set up on 27 Feb 2017, if set up purely for Chapter 11 then serious questions need to be addressed.  The Board of Directors (the &ldquo Board&rdquo ) of Ezra Holdings Limited (the &ldquo Company&rdquo or the &ldquo Group&rdquo ) wishes to announce that the Company has incorporated a new wholly-owned subsidiary company, Ezra Holdings (NY) Inc. (&ldquo Ezra Inc.&rdquo ), in the United States of America with 200 shares at a nominal issue price per share. The incorporation of Ezra Inc. is not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of the Company and its Group for the current financial year ending 31 August 2017. The principal activity of Ezra Inc. is management services and investment holdings. None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the incorporation of Ezra Inc..  ahhuat08      ( Date: 19-Mar-2017 13:55) Posted: In the first place, ezra holdings is listed in sgx and not nyse nor nasdaq. So it bags the question y Ezra and Ecs both file in usa. This is really not in accordance with sgx by laws. Correct me if i m wrong. sgtrader101      ( Date: 19-Mar-2017 13:50) Posted: If the company's stock is publicly traded, a Chapter 11 filing generally causes it to be delisted from its primary stock exchange if listed on the New York Stock Exchange, the American Stock Exchange, or the NASDAQ. On the NASDAQ the identifying fifth letter "Q" at the end of a stock symbol indicates the company is in bankruptcy (formerly the "Q" was placed in front of the pre-existing stock symbol a celebrated example was Penn Central, whose symbol was originally "PC" and became "QPC" after the company filed Chapter 11 in 1970). Many stocks that are delisted quickly resume listing as over-the-counter (OTC) stocks. "Actual share value does not reach zero unless the probability of restructuring is so low that a Chapter 7 filing is sure to follow." Individuals may file Chapter 11, but due to the complexity and expense of the proceeding, this option is rarely chosen by debtors who are eligible for Chapter 7 or Chapter 13 relief. Source - https://en.m.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_Cod
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granto Master	19-Mar-2017 14:17        granto About Contact  Quote this Post!
x 0   x 0  Alert Admin	The US thing is very interesting, as it says here its a holding company, didn' t they only just set this up recently? Ezra Holdings files for US bankruptcy protection http://splash247.com/ezra-holdings-files-us-bankruptcy-protection/
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ahhuat08 Elite	19-Mar-2017 14:09        ahhuat08 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ok, just goggled ezra adr, and the symbol pops out, EZRHY., so apparently it does hv a adr in usa mkt hence they hv every rights to file for cap 11 in usa. Not vested.
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earlybird14 Supreme	19-Mar-2017 14:07        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	This is same as Swiber. Judge or gov assigned middle man will only focus on the benefits of existing employees rather than shareholders to negotiate with creditors try not to winding up the company to maintain jobs for the employees. In facts, as creditors they prefer to winding up the assets, take it, sell it or keep it and get ride of other liability and commitment especially towards the large group of employees who are waiting for salary month to month. Put the assets or vessels at idles and wait for next boom to come, will be a better choice for creditors to recover their loss rather than spending money in operation which will only make loss day to day basis. earlybird14      ( Date: 19-Mar-2017 14:02) Posted: So, again game over, under bankruptcy protection, or JM, the negotiations between creditors and judges will take very long till 1-2 years. Unfortunately, there will not have any seat for Lionel Lee or any existing shareholders to sit it during the negotiations process. They can only wait for the outcome and the mercy from creditors and judges decision. earlybird14      ( Date: 19-Mar-2017 13:59) Posted: This is for stock listed in Nasdaq or nyse. Still can trade in OTC market or pink street market. Ezra listed in sgx, don't know got such thing or not. However, There are quite huge number companies file chapter 11, then restructuring and successful relist in Nasdaq and nyse again. However successful restructuring mean creditors are willing to accept the conditions of converting their debts or bonds to shares. Then existing shareholders share will be fully diluted or completely wipe out. I saw 90% to 10% till 100 to 0% case by case basis for new share arrangement between creditors and existing shareholders.( majority is 99% to 1%) For Ezra case, so long as low oil price dragging, the negotiations power from existing shareholders getting smaller. If move to chapter 7 or 13, basically nothing left to existing shareholders. Stock price traded at 1.1 cents before filing chapter 11 imply big players have valued there will be nothing left to existing shareholders.( if any, they will load at higher price
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earlybird14 Supreme	19-Mar-2017 14:02        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	So, again game over, under bankruptcy protection, or JM, the negotiations between creditors and judges will take very long till 1-2 years. Unfortunately, there will not have any seat for Lionel Lee or any existing shareholders to sit it during the negotiations process. They can only wait for the outcome and the mercy from creditors and judges decision. earlybird14      ( Date: 19-Mar-2017 13:59) Posted: This is for stock listed in Nasdaq or nyse. Still can trade in OTC market or pink street market. Ezra listed in sgx, don't know got such thing or not. However, There are quite huge number companies file chapter 11, then restructuring and successful relist in Nasdaq and nyse again. However successful restructuring mean creditors are willing to accept the conditions of converting their debts or bonds to shares. Then existing shareholders share will be fully diluted or completely wipe out. I saw 90% to 10% till 100 to 0% case by case basis for new share arrangement between creditors and existing shareholders.( majority is 99% to 1%) For Ezra case, so long as low oil price dragging, the negotiations power from existing shareholders getting smaller. If move to chapter 7 or 13, basically nothing left to existing shareholders. Stock price traded at 1.1 cents before filing chapter 11 imply big players have valued there will be nothing left to existing shareholders.( if any, they will load at higher price) sgtrader101      ( Date: 19-Mar-2017 13:50) Posted: If the company's stock is publicly traded, a Chapter 11 filing generally causes it to be delisted from its primary stock exchange if listed on the New York Stock Exchange, the American Stock Exchange, or the NASDAQ. On the NASDAQ the identifying fifth letter "Q" at the end of a stock symbol indicates the company is in bankruptcy (formerly the "Q" was placed in front of the pre-existing stock symbol a celebrated example was Penn Central, whose symbol was originally "PC" and became "QPC" after the company filed Chapter 11 in 1970). Many stocks that are delisted quickly resume listing as over-the-counter (OTC) stocks. "Actual share value does not reach zero unless the probability of restructuring is so low that a Chapter 7 filing is sure to follow." Individuals may file Chapter 11, but due to the complexity and expense of the proceeding, this option is rarely chosen by debtors who are eligible for Chapter 7 or Chapter 13 relief. Source - https://en.m.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_Cod
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earlybird14 Supreme	19-Mar-2017 13:59        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	This is for stock listed in Nasdaq or nyse. Still can trade in OTC market or pink street market. Ezra listed in sgx, don't know got such thing or not. However, There are quite huge number companies file chapter 11, then restructuring and successful relist in Nasdaq and nyse again. However successful restructuring mean creditors are willing to accept the conditions of converting their debts or bonds to shares. Then existing shareholders share will be fully diluted or completely wipe out. I saw 90% to 10% till 100 to 0% case by case basis for new share arrangement between creditors and existing shareholders.( majority is 99% to 1%) For Ezra case, so long as low oil price dragging, the negotiations power from existing shareholders getting smaller. If move to chapter 7 or 13, basically nothing left to existing shareholders. Stock price traded at 1.1 cents before filing chapter 11 imply big players have valued there will be nothing left to existing shareholders.( if any, they will load at higher price) sgtrader101      ( Date: 19-Mar-2017 13:50) Posted: If the company's stock is publicly traded, a Chapter 11 filing generally causes it to be delisted from its primary stock exchange if listed on the New York Stock Exchange, the American Stock Exchange, or the NASDAQ. On the NASDAQ the identifying fifth letter "Q" at the end of a stock symbol indicates the company is in bankruptcy (formerly the "Q" was placed in front of the pre-existing stock symbol a celebrated example was Penn Central, whose symbol was originally "PC" and became "QPC" after the company filed Chapter 11 in 1970). Many stocks that are delisted quickly resume listing as over-the-counter (OTC) stocks. "Actual share value does not reach zero unless the probability of restructuring is so low that a Chapter 7 filing is sure to follow." Individuals may file Chapter 11, but due to the complexity and expense of the proceeding, this option is rarely chosen by debtors who are eligible for Chapter 7 or Chapter 13 relief. Source - https://en.m.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_Code earlybird14      ( Date: 19-Mar-2017 13:36) Posted: If you are existing shareholders to care about Ezra, you can forget Ezra since you will only get nothing no matter what is outcome after chapter 11. If you are Ezra employees and expect to survive in the coming retrenchment, then your future will be tightened with the outcome of chapter 11. So long as they don't move to chapter 7 which is winding out, your jobs will be saved. Basically Saturday chapter 11 filling for EZRA holding is game over for existing shareholders
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ahhuat08 Elite	19-Mar-2017 13:55        ahhuat08 About Contact  Quote this Post!
x 0   x 0  Alert Admin	In the first place, ezra holdings is listed in sgx and not nyse nor nasdaq. So it bags the question y Ezra and Ecs both file in usa. This is really not in accordance with sgx by laws. Correct me if i m wrong. sgtrader101      ( Date: 19-Mar-2017 13:50) Posted: If the company's stock is publicly traded, a Chapter 11 filing generally causes it to be delisted from its primary stock exchange if listed on the New York Stock Exchange, the American Stock Exchange, or the NASDAQ. On the NASDAQ the identifying fifth letter "Q" at the end of a stock symbol indicates the company is in bankruptcy (formerly the "Q" was placed in front of the pre-existing stock symbol a celebrated example was Penn Central, whose symbol was originally "PC" and became "QPC" after the company filed Chapter 11 in 1970). Many stocks that are delisted quickly resume listing as over-the-counter (OTC) stocks. "Actual share value does not reach zero unless the probability of restructuring is so low that a Chapter 7 filing is sure to follow." Individuals may file Chapter 11, but due to the complexity and expense of the proceeding, this option is rarely chosen by debtors who are eligible for Chapter 7 or Chapter 13 relief. Source - https://en.m.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_Code earlybird14      ( Date: 19-Mar-2017 13:36) Posted: If you are existing shareholders to care about Ezra, you can forget Ezra since you will only get nothing no matter what is outcome after chapter 11. If you are Ezra employees and expect to survive in the coming retrenchment, then your future will be tightened with the outcome of chapter 11. So long as they don't move to chapter 7 which is winding out, your jobs will be saved. Basically Saturday chapter 11 filling for EZRA holding is game over for existing shareholders
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sgtrader101 Senior	19-Mar-2017 13:50        sgtrader101 About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	If the company's stock is publicly traded, a Chapter 11 filing generally causes it to be delisted from its primary stock exchange if listed on the New York Stock Exchange, the American Stock Exchange, or the NASDAQ. On the NASDAQ the identifying fifth letter "Q" at the end of a stock symbol indicates the company is in bankruptcy (formerly the "Q" was placed in front of the pre-existing stock symbol a celebrated example was Penn Central, whose symbol was originally "PC" and became "QPC" after the company filed Chapter 11 in 1970). Many stocks that are delisted quickly resume listing as over-the-counter (OTC) stocks. "Actual share value does not reach zero unless the probability of restructuring is so low that a Chapter 7 filing is sure to follow." Individuals may file Chapter 11, but due to the complexity and expense of the proceeding, this option is rarely chosen by debtors who are eligible for Chapter 7 or Chapter 13 relief. Source - https://en.m.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_Code earlybird14      ( Date: 19-Mar-2017 13:36) Posted: If you are existing shareholders to care about Ezra, you can forget Ezra since you will only get nothing no matter what is outcome after chapter 11. If you are Ezra employees and expect to survive in the coming retrenchment, then your future will be tightened with the outcome of chapter 11. So long as they don't move to chapter 7 which is winding out, your jobs will be saved. Basically Saturday chapter 11 filling for EZRA holding is game over for existing shareholders. joebloggs      ( Date: 19-Mar-2017 13:28) Posted: Does anybody know if EZRA satisfies this condition as subsidiary set up in NY only done so in February 2017? Debtor has had its domicile, principal place of business, or principal assets in this district for 180 days immediately preceding the date of this petition or for a longer part of such 180 days than in any other district.
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ahhuat08 Elite	19-Mar-2017 13:45        ahhuat08 About Contact  Quote this Post!
x 0   x 0  Alert Admin	How come those geniuses at tech oil n gas, linc energy, seissco n swiber never think of filing cap 11 in   usa instead of seeking JM in sg, and that will mean auto suspension. Maybe ezra might escape the destiny of those companies, but, for how long can Ezra survive this malaise?
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earlybird14 Supreme	19-Mar-2017 13:36        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	If you are existing shareholders to care about Ezra, you can forget Ezra since you will only get nothing no matter what is outcome after chapter 11. If you are Ezra employees and expect to survive in the coming retrenchment, then your future will be tightened with the outcome of chapter 11. So long as they don't move to chapter 7 which is winding out, your jobs will be saved. Basically Saturday chapter 11 filling for EZRA holding is game over for existing shareholders. joebloggs      ( Date: 19-Mar-2017 13:28) Posted: Does anybody know if EZRA satisfies this condition as subsidiary set up in NY only done so in February 2017? Debtor has had its domicile, principal place of business, or principal assets in this district for 180 days immediately preceding the date of this petition or for a longer part of such 180 days than in any other district.
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joebloggs Senior	19-Mar-2017 13:28        joebloggs About Contact  Quote this Post!
x 0   x 0  Alert Admin	Does anybody know if EZRA satisfies this condition as subsidiary set up in NY only done so in February 2017? Debtor has had its domicile, principal place of business, or principal assets in this district for 180 days immediately preceding the date of this petition or for a longer part of such 180 days than in any other district.
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sheerluck Supreme	19-Mar-2017 13:09        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	Well, if they file bankruptcy protection in the US, where do you   think the Lee should be reisding " to aid" in the prceeding?   Stay in Signapore and wait for people to come " tia zua" meh? Now we know why they sell their properties.   Already thinknig of uprooting and run road liao lah.   Notebholders still so silly silly fall into their trap to agree extension. 已 经 想 好 后 路 ， 已 经 想 好 退 路 。 I am just wondering how much do they they intend to spend in Vegas for their holidays.   Copmlementry from other shareholders, noteholders, bondholders, debt holders, bah blah blah....... Luckystrike      ( Date: 19-Mar-2017 11:15) Posted: Ya, catch no ball as what resulted in this type of arrangement. How come USA court can take up of this arrangement? It could be filing bankruptcy protection in USA will be more beneficial than filing local bankruptcy potection. ahhuat08      ( Date: 19-Mar-2017 10:59) Posted: Strangely a sg coy filing cap 11 in usa. So is ezra under the jurisdiction of sg or usa. Now all those companies facing similar financial difficulties will seek e path of Ezra and maybe, sgx will not suspend ezra shares and let it continue to trade whilst it indergoes restructuring.
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Alvin2042 Master	19-Mar-2017 13:03        Alvin2042 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Think this is the best possible outcome. Erza will never be able to make it on its own. Says asset how much no use. If you have your assets idle, without maintenance n running, ot will not work when require. ysh2006      ( Date: 19-Mar-2017 12:47) Posted: Last time HDB sell for $550k five room 5 years ago now can sell only $380 at Chua Chu Kang area...Asset 5 yr ago and now difference ...if bank lelong fire sell it can get $350 only.... ahhuat08      ( Date: 19-Mar-2017 11:51) Posted:   Assets 1 bil Liabilities 500 mil So this is a positive equity company, why file for cap 11?
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ysh2006 Supreme	19-Mar-2017 12:47        ysh2006 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Last time HDB sell for $550k five room 5 years ago now can sell only $380 at Chua Chu Kang area...Asset 5 yr ago and now difference ...if bank lelong fire sell it can get $350 only.... ahhuat08      ( Date: 19-Mar-2017 11:51) Posted:   Assets 1 bil Liabilities 500 mil So this is a positive equity company, why file for cap 11? FATABA      ( Date: 19-Mar-2017 11:37) Posted: The failure of Erza was given .....however, will our banking be greatly affect.  More so a knee jerk reaction, as provision are well taken in last few qtrs of our local banks report ....further, look at the asset and lia balance of Erza as reported. ​ " The company said it had unsecured loans of $272 million, owed to DBS Bank Ltd (DBSM_pc.SI), $184 million owed to Oversea-Chinese Banking Corp Ltd (OCBC.SI) and $108 million to a Singapore affiliate of HSBC Plc (HSBA.L). The company said in a court filing in the U.S. Bankruptcy Court in New York that it had up to $1 billion in assets and up to $500 million in liabilities.
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earlybird14 Supreme	19-Mar-2017 12:26        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	You have condo bought in 2013 at 1.5mio and record in your book and you have 1.2mio loan with bank. 2018, if property price crash till 1mio, your loan stil 1.1-1.2 mio, but book record at 1.5mio. But you have no money to serve the loan. So how? Winding up only can sell 1mio not enough for bank loan, so can only file bankruptcy protection and hope bank won't winding up and give chance for debt restructuring ahhuat08      ( Date: 19-Mar-2017 11:51) Posted:   Assets 1 bil Liabilities 500 mil So this is a positive equity company, why file for cap 11? FATABA      ( Date: 19-Mar-2017 11:37) Posted: The failure of Erza was given .....however, will our banking be greatly affect.  More so a knee jerk reaction, as provision are well taken in last few qtrs of our local banks report ....further, look at the asset and lia balance of Erza as reported. ​ " The company said it had unsecured loans of $272 million, owed to DBS Bank Ltd (DBSM_pc.SI), $184 million owed to Oversea-Chinese Banking Corp Ltd (OCBC.SI) and $108 million to a Singapore affiliate of HSBC Plc (HSBA.L). The company said in a court filing in the U.S. Bankruptcy Court in New York that it had up to $1 billion in assets and up to $500 million in liabilities.
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jlim777 Senior	19-Mar-2017 12:15        jlim777 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Chapter 11 is bankruptcy protection. It is to allow for reorganization and debt restructuring. If all creditors ask them to pay 500 mil at the same time, can they do it? Even banks also cannot do it, if they must return all the deposits and savings at the same time. I don' t have position at Ezra at all. ahhuat08      ( Date: 19-Mar-2017 11:51) Posted:   Assets 1 bil Liabilities 500 mil So this is a positive equity company, why file for cap 11? FATABA      ( Date: 19-Mar-2017 11:37) Posted: The failure of Erza was given .....however, will our banking be greatly affect.  More so a knee jerk reaction, as provision are well taken in last few qtrs of our local banks report ....further, look at the asset and lia balance of Erza as reported. ​ " The company said it had unsecured loans of $272 million, owed to DBS Bank Ltd (DBSM_pc.SI), $184 million owed to Oversea-Chinese Banking Corp Ltd (OCBC.SI) and $108 million to a Singapore affiliate of HSBC Plc (HSBA.L). The company said in a court filing in the U.S. Bankruptcy Court in New York that it had up to $1 billion in assets and up to $500 million in liabilities.
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ahhuat08 Elite	19-Mar-2017 11:51        ahhuat08 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Assets 1 bil Liabilities 500 mil So this is a positive equity company, why file for cap 11? FATABA      ( Date: 19-Mar-2017 11:37) Posted: The failure of Erza was given .....however, will our banking be greatly affect.  More so a knee jerk reaction, as provision are well taken in last few qtrs of our local banks report ....further, look at the asset and lia balance of Erza as reported. ​ " The company said it had unsecured loans of $272 million, owed to DBS Bank Ltd (DBSM_pc.SI), $184 million owed to Oversea-Chinese Banking Corp Ltd (OCBC.SI) and $108 million to a Singapore affiliate of HSBC Plc (HSBA.L). The company said in a court filing in the U.S. Bankruptcy Court in New York that it had up to $1 billion in assets and up to $500 million in liabilities.
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