Singapore-based Ezra Holdings says it may be faced with a "going concern" notice from its auditors as a result of the US bankruptcy filing by its offshore subsidiary, Emas Chiyoda Subsea.
Ezra announced that it was seeking advice on the impact that the Emas Chiyoda filing will have on the parent company.
In a notice to the Singapore Exchange, Ezra said it "will work closely with its principal bankers to review all options" for how it can fund additional working capital and refinance its debt.
Emas Chiyoda filed for Chapter 11 protection earlier this week, outlining claims of some $966m.
Separately, a US bankruptcy judge authorised some $90m in debtor-in-possession financing for the company so it can pay insurance and suppliers for ongoing projects.
Client Saudi Aramco, whose business Emas Chiyoda won last year, said it would pull the contracts should the company not be able to meet its current liabilities.
