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Hyflux
16 Jun 2021 (591 views)  

Here are some sad news for 34,000 individual investors of Hyflux. 

From Phillips Securities
Asset sales in a liquidation process at Hyflux, Singapore's highest-profile distressed company, would likely bring in less than S$200 million, a person familiar with the matter said, a fraction of the amount creditors are claiming.

Hyflux's judicial manager Borrelli Walsh filed a court application earlier this month to wind up the water-treatment and power company, and said there are six bids involving individual assets. Proceeds of that size from the liquidation would confirm creditors' concerns that they may get little back from the company, which began a court-supervised debt restructuring process in 2018 and faced about S$2.8 billion in total investor claims. Investors in the once-highflying firm include about 34,000 individuals who put money in products including perpetual notes and preference shares.

 


Hyflux
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Here are some sad news for 34,000 individual investors of Hyflux. 

From Phillips Securities
Asset sales in a liquidation process at Hyflux, Singapore's highest-profile distressed company, would likely bring in less than S$200 million, a person familiar with the matter said, a fraction of the amount creditors are claiming.

Hyflux's judicial manager Borrelli Walsh filed a court application earlier this month to wind up the water-treatment and power company, and said there are six bids involving individual assets. Proceeds of that size from the liquidation would confirm creditors' concerns that they may get little back from the company, which began a court-supervised debt restructuring process in 2018 and faced about S$2.8 billion in total investor claims. Investors in the once-highflying firm include about 34,000 individuals who put money in products including perpetual notes and preference shares.