It announced in an exchange filing that the application will be heard at the next case management conference on Thursday, just days before its court-sanctioned protection from creditors expires on 30 April. If successful, the debt moratorium will be extended to 30 July.
Plan to avoid liquidation, keep retail investors in the booksOn Monday, investment watchdog Securities Investors Association , or SIAS, said after a meeting with Hyflux representatives that the firm is coming up with a plan to avoid liquidation and keep its retail investors in its books. SIAS had requested the meeting after a $530 million rescue deal with Indonesia’s SM Investments went awry earlier this month.
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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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Hyflux to ask court for further 3-month reprieve from creditorsHYFLUX wants more time to try to return to solvency and plans to file an affidavit to the Singapore High Court soon to give it an additional three-month reprieve from creditor claims. Read more at The Business Times.
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Hyflux to seek 3-mth debt moratorium extension ahead of Apr 30 deadlineHYFLUX wants more time to try to return to solvency, and plans to file an affidavit to the Singapore High Court soon to give it an additional three-month reprieve from creditor claims. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »