Emas Offshore announced that ceo and ed Adarash Kumar S/O Chranji Lal Amarnath has tendered his resignation and his last day of service will be on April 6, 2018.
Baker Technology’s subsidiary and Point Hope have emerged as the ‘white knight’ investors for beleaguered EMAS Offshore Limited (EOL), which will receive a $50m investment from the investors.
Embattled EMAS Offshore Limited (EOL) and two of its wholly-owned subsidiaries have voluntarily filed a restructuring application to the High Court of Singapore, and entered into a binding term sheet with certain potential ‘White Knight’ investors as part of the financial restructuring.
The High Court of Singapore has ordered the winding up of Lewek Champion Pte Ltd, wholly-owned by EMAS Offshore Limited (EOL), following a request made by Hai Jiang 1401, a special purpose vehicle fully owned by China’s ICBC Financial Leasing.
A subsidiary of EMAS Offshore Limited (EOL), owned by bankrupt Ezra Holdings, is facing a winding up threat after it received a statutory demand from China’s ICBC Financial Leasing for the payment of around $195.02m relating to the termination of a bareboat charter.
Embattled Ezra Holdings operating unit EMAS Offshore has been suspended from trading on both the Singapore Exchange and Oslo Bors.