Hyflux to ask court for further 3-month reprieve from creditors

Mr Gerald said:"According to the advisors, for the new plan to materialise, the company will need at least three months, which I support in the interest of all retail investors."Martin Lee, a perp, pref and ordinary shareholder, said:"While this seems like a positive development, there have been so many twists and turns in this Hyflux saga that I think it is better to wait for details before giving comments on the merits of the new deal.

After Hyflux's planned rescue deal with Indonesia's Salim-Medco deal fell through earlier this month, Hyflux is slated to lose its largest asset, Tuaspring.

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Hyflux applies for 3-month debt moratorium extension, hit with fresh US$65m in claimsHYFLUX and three of its subsidiaries have applied to the Singapore High Court for an additional three-month reprieve from its creditors as it works on another plan to avoid liquidation, it announced in an exchange filing on Tuesday. Read more at The Business Times.
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