Singapore’s Distressed Hyflux Faces Court Hearing on Liquidation
- Hearing by Singapore court is scheduled to start on Monday
- Suitor Utico to argue against liquidation, official had said
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Hyflux Ltd.’s judicial manager will bring a plan to liquidate the Singapore company before a court on Monday, following a years-long saga in one of the city-state’s most high-profile distressed cases.
The hearing comes after the court-appointed manager in charge of the water treatment company since November applied last month to wind up the firm. Judicial manager Borrelli Walsh Ltd. said in a statement in June that “the remaining value” of the Hyflux Group is best realized in a liquidation.