Here's how the Ezra bankruptcy filing is impacting Triyards

Lenders might demand immediate repayment.

Following the bankruptcy filing announcement made by Triyards Holdings Limited's ultimate holding company, Ezra Holdings Limited, Triyards in an SGX filing said it will work closely with its financial institutions to ensure minimal or no disruption.

To recall, Ezra announced that it voluntarily filed a petition for reorganisation under Chapter 11 of the United States Bankruptcy Code in order to obtain the protection of the United States Bankruptcy Court to facilitate the financial and operational restructuring of the Ezra Group. Also involved are Ezra's wholly-owned subsidiaries EMAS IT Solutions and Ezra Marine Services.

Here's more from Triyards:

Arising from the Ezra Chapter 11 Filing, certain financial institutions which provided borrowings to the Group may seek to assert rights under the banking facilities entered into by the Group, including the right to demand immediate repayment and termination or withdrawal of the loan at any time, and the moratorium afforded under the Ezra Chapter 11 Filing does not stay claims against the Group in relation to these existing banking facilities. The Group has/will engage and work closely with its financial institutions to ensure that there is minimal or no disruption to its existing banking facilities.

The Company is currently seeking advice on the Ezra Chapter 11 Filing, as well as assessing the impact of such filing on the Group. At this stage, the Company is not aware of any actions by the Group’s financial institutions as a result of the Ezra Chapter 11 Filing and the Company does not have a going concern issue. In the event that any material changes occur in relation to any or all of these existing banking facilities of the Group, the Company will review and assess its ability to continue as a going concern.