JUSTICE Aedit Abdullah has granted Hyflux a one-month extension of its debt moratorium to May 24.
Arguments for further extensions can be made either on May 7 or 13. Carve-out arguments put forth by some creditors seeking judicial management will be heard on May 7. If approved, the JM hearing will be on May 13. Hyflux had asked for three months but the judge said that the moratorium under section 211B is meant to give a company “breathing space” and not for it to “continue indefinitely”.
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