Hyflux will have its debt moratorium extended by one more month to May 24, with High Court Justice Aedit Abdullah stressing that he wants the company kept on a "short leash". Hyflux has been in restructuring limbo for almost a year now.HYFLUX will have its debt moratorium extended by one more month to May 24, with High Court Justice Aedit Abdullah stressing that he wants the company kept on a"short leash". Hyflux has been in restructuring limbo for almost a year now.
Ms Lum wrote:"The interest expressed by parties has focused on the EPC business and the potential pipeline that can be developed by leveraging off the existing track record. WongPartnership lawyer Manoj Sandrasegara, who represents Hyflux, told the court:"Liquidation is armageddon because everything just grinds to a halt."Mr Sandrasegara agreed that this may be so for"really bad" cases, but Hyflux is not at that stage, and still has a track record in the global water business.
If a carve-out is approved, these banks plan to file an application to appoint judicial managers over Hyflux and Hydrochem to replace the present Hyflux management.
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High Court grants Hyflux 1-month extension of debt moratorium to May 24HYFLUX will have its debt moratorium extended by one more month to May 24, though High Court Justice Aedit Abdullah stressed that he wants the company kept on a “short leash”. Hyflux has been in restructuring limbo for almost a year now. The water cleaning firm had asked the Court on Thursday to let it prolong its search for a rescue investor by three more months. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Newsflash: Hyflux granted a one-month extension of its debt moratorium to May 24JUSTICE Aedit Abdullah has granted Hyflux a one-month extension of its debt moratorium to May 24. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Newsflash: Hyflux granted a one-month extension of its debts moratorium to May 24JUSTICE Aedit Abdullah has granted Hyflux a one-month extension of its debts moratorium to May 24. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Hyflux debt moratorium extended to May 24SINGAPORE - The High Court on Thursday (April 25) allowed embattled water treatment firm Hyflux and its three subsidiaries another month of reprieve until May 24 from their creditors as the company works on two possible plans to avoid liquidation. The order was passed just days before an earlier court-sanctioned protection from creditors was set to expire next Tuesday (April 30).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
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.
Source: BusinessTimes - 🏆 15. / 51 Read more »