SINGAPORE (May 7): The Singapore High Court on Tuesday rejected the petition by a group of seven unsecured banks to be carved out of a debt moratorium, so that they can file an application to have Hyflux and Hydrochem placed under judicial management.
The High Court also granted Hyflux a five-day extension of the moratorium originally set to end on May 24.
This means if Hyflux is unable to come up with a concrete restructuring plan by the new May 29 deadline, its creditors would start filing applications for judicial management.
Hyflux will be able to apply for a further extension to...(click on link for full story on theedgesingapore.com)