Hyflux files lawsuit against former white knight SM Investments

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SINGAPORE (April 15): Hyflux is suing former white knight investor SM Investments (SMI) in the Singapore courts for repudiation of the restructuring agreement agreed upon between the two parties in Oct last year.

The water and power company on the brink of bankruptcy is also claiming the S$38.9 million deposit placed into escrow shortly after the execution of the restructuring agreement.

Hyflux also announced it had appointed nTan Corporate Advisory as an additional advisor in the company’s ongoing court supervised reorganisation process... (Click here to read the full story)