Court extends Hyflux debt moratorium to end of April 2019

Singapore

HYFLUX has convinced a Singapore High Court to extend its debt moratorium by four-and-a-half months to April 30 next year, despite arguments from some bank creditors that the insolvent firm should be kept on a tighter leash.

Justice Aedit Abdullah granted Hyflux the extension after hearing arguments from both sides on Monday.

Tan Kok Quan Partnership lawyer Eddee Ng, on behalf of five banks, had argued for the moratorium to be extended to Jan 16, 2019.

Under the restructuring timetable put forth by Hyflux, it should be clear by mid-January if Hyflux has been able to get all creditor groups on board or not, Mr Ng said: "The company should be kept on a very tight l…