Hyflux winds up two units over unpaid debts

HYFLUX Membrane Manufacturing and Hyflux Engineering have been ordered on Tuesday (Mar 28) to be wound up upon a successful application by the now-defunct water treatment firm Hyflux.

Tan Kok Quan Partnership, representing Hyflux as the claimant in the winding-up applications, told the High Court that the two Hyflux subsidiaries have not been able to pay the debt it is seeking to recover, without stating the overdue amounts and the circumstances in which these were incurred.

Hyflux Membrane Manufacturing and Hyflux Engineering also have current liabilities exceeding current assets, thereby satisfying the cash flow test, the court heard.