SINGAPORE (July 3): When will Hyflux’s troubles cease?
The distressed water treatment company announced via an SGX filing on Thursday evening that Ascendas REIT (A-REIT) is “not presently proceeding” with its application to be carved out of Hyflux’s debt moratorium.
The REIT said that it has informed the Singapore High Court of its decision.
In April, Hyflux said that the moratorium will be extended till July 30.
The High Court has also revised its hearing schedule at a pre-trial conference on Thursday morning.
On July 27, Justice Aedit Abdullah will hear the applications submitted by the unsecured working group of banks (UWG) as well as RBC Investors Services Trust, the trustee of ESR-REIT.
Hyflux has been given a deadline of 11 July to file and serve its unredacted substantive reply affidavit on the unsecured working group of banks (UWG) as well as RBC Investors Services Trust, the trustee of ESR-REIT.
The UWG of banks comprise the following parties: Mizuho, KfW, Bangkok Bank, BNP Paribas, Standard Chartered Bank, CTBC Bank and the Korea Development Bank.
See also:
- Hyflux receives overture from yet another Indonesian suitor
- Jadason Enterprises director, who is also a director of Hyflux, also under investigation
- Aqua Munda still 'interested' in buying over Hyflux's debt
- Hyflux and directors under joint probe by CAD, MAS and ACRA
- Hyflux uncertainty mounts as yet another suitor enters the fray
- 66 parties file proofs of claim worth $3.1 bil against Hyflux
