Beleaguered Ezra won't pay interest on its $150m notes

It was supposed to be due on April 24.

Offshore marine group Ezra holdings which filed for US bankruptcy protection last month announced that it will not be paying the interest due on April 24 on its $150m 4.875% fixed rate notes due 2018.

The group said this is due to the US bankruptcy code.

“The Company wishes to announce that the interest payment…constitutes pre-Ezra Chapter 11 Filing unsecured claim that the Company is not permitted to make pursuant to the United States Bankruptcy Code,” the group said, "When in doubt as to the action they should take, stakeholders and potential investors should consult their financial, tax or other advisers.”
 

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