Monday, March 20, 2017

EZRA STOCK: BANKRUPTCY!


Ezra stockEZRA has filed for bankruptcy in the US states yesterday (19 Mar 2017). This was the latest development following the trading halt in Ezra share last Wednesday. I am not too familiar with how bankruptcy of local stocks in Singapore will proceed and more importantly whether there will be a possibility shareholders of Ezra stock would get back their capital or even some monies. It seems to me even more complex now since Ezra is a Singapore-listed stock but it has filed for bankruptcy in the United States, hence I do not know how this will all translate.
 
The move by embattled Ezra to file for bankruptcy is likely to send waves across the Singapore’s O&G sector stocks when the stocks market open later. Banking stocks could be hit as well since some of these have unsecured loans to these O&G players. More importantly, investors will be busy scrutinizing to see amidst this fallout, whether other O&G companies, especially those with a high debt leverage will follow suit. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.                               
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