Court grants winding-up order for Hyflux

THE Singapore High Court on Wednesday granted an order to wind up beleaguered water-treatment company Hyflux, while former white-knight suitor Utico was ordered to pay S$5,000 to the judicial managers (JMs).

The firm’s JMs – Patrick Bance and Hamish Alexander Christie of Borrelli Walsh (BW) – were appointed as Hyflux’s liquidators. Following that, the JM order was discharged.

This follows a hearing via Zoom before High Court Justice Aedit Abdullah, on an application filed last month by Hyflux’s JMs from BW after restructuring negotiations with potential investors had fallen through.