Hyflux will restart talks with its creditors to explore outcomes other than liquidation, but has not decided yet on whether it will seek an extended debt moratorium from the Singapore High Court.HYFLUX will restart talks with its creditors to explore outcomes other than liquidation, but has not decided yet on whether it will seek an extended debt moratorium from the Singapore High Court.
The update comes after Hyflux last Thursday terminated a crucial rescue deal, with just weeks to go before the insolvent water and power plant company loses court protection from creditors when its moratorium expires on April 30. In Court on Thursday, none of the lawyers representing Hyflux’s various stakeholders were impatient for its moratorium to be lifted.He cited an email he had received from retail perpetual securities holder Violet Seow: “She has expressed that she has no confidence in the restructuring attempts and says that the company should basically not be allowed to extend the moratorium for too long.”
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