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Hyflux

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Related News

Hyflux winding-up hearing adjourned after intervention by Utico

14 Jul 2021 09:00

By Claudia Tan

WHITE knight suitor Utico is making a last-ditch attempt to intervene in Hyflux's winding-up process.

This follows a hearing before High Court Justice Aedit Abdullah on the winding-up application filed last month by Hyflux's judicial managers (JMs) from Borrelli Walsh after restructuring negotiations with potential investors had fallen through.

Justice Aedit had granted permission for Utico's draft affidavit to be circulated among creditors and adjourned Hyflux's winding-up hearing, which was initially set on Monday. A new date will be fixed in a pre-trial conference on Tuesday.

The Middle Eastern utility firm had, through its lawyers from Braddell Brothers, appealed to file an affidavit, which was said to refute what the JMs had asserted regarding the failure to proceed with certain negotiations for the restructuring, the Singapore High Court heard on Monday.


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Source: Business Times
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