SINGAPORE: Hyflux has been given the go-ahead by the Singapore High Court to postpone its scheme meetings and have its debt moratorium extended by another three months, it said in a bourse filing on Thursday ., citing the ongoing COVID-19 pandemic and heightened safe distancing rules which have made it “impossible ... to physically convene the scheme meetings” on Apr 22 and Apr 23.
The scheme meetings, where creditors will get to cast their votes on the restructuring deal, have been ordered to be “postponed to a later date to be decided”, Hyflux said in the bourse filing.In addition, the High Court has scheduled a case management conference at 10am on May 14 to issue further directions on the convening of the scheme meeting and the moratorium, it added.