Crisis-Hit Hyflux’s Debt Plan Faces S$40 Million Fee Hurdle
- Fees need to be split among water treatment firm’s advisers
- Shame if all were to ‘come to naught’: Judge Abdullah
This article is for subscribers only.
Having just signed a deal with Middle Eastern suitor Utico FZC, crisis-hit Hyflux Ltd. is facing a fresh challenge -- how to allocate S$40 million ($29 million) of fees among restructuring advisers.
The Singapore water treatment company needs to get its advisers to agree on how to split the pot, or Utico has the right to walk away, according to the deal terms. The problem was discussed in a court hearing in Singapore on Friday.