The Business Times
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Hyflux case cited to show benefits of new insolvency, restructuring law

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Tay Peck Gek

Tay Peck Gek

Published Mon, Oct 1, 2018 · 09:50 PM

    Singapore

    SHORTLY after filing for a moratorium to support its restructuring proceedings, certain creditors of Hyflux declared an event of default had occurred. Based on this, the creditors exercised their contractual rights, such as the acceleration of repayment terms and set-off rights in respect of the debts owing to Hyflux.

    This made Hyflux's financial situation worse.

    InsolvencyHyflux

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