Home-Fix gets Singapore High Court nod for debt restructuring
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HOME-FIX will now undergo debt restructuring for the next six months, after financial woes pushed the home-improvement retail company to shutter all its retail stores in Singapore last month.
The High Court granted Home-Fix - represented by a team from Tan Kok Quan Partnership - judicial management in a hearing on Thursday. No creditors or other media were present at the court hearing.
In applying for judicial management, Tan Kok Quan Partnership sought to show that Home-Fix's business has the potential to be revived. Failing that, restructuring the company would also help to achieve a better realisation of the company's assets than if it were wound up, the lawyers argued.
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