Singapore's Ezra Holding has been hit with a US$194.5 million claim from a unit of China's ICBC Financial Leasing.
Hai Jiang 1401, which is controlled by ICBC, issued a notice of termination on 9 March to Ezra subsidiary Lewek Champion Shipping related to a sale and leaseback deal signed in 2014.
Ezra sold its Lewek Champion pipelay and heavy lift construction vessel to ICBC in February 2014 for US$200 million and leased it back under a 10-year deal.
