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Hyflux appoints Clifford Chance, Cavenagh Law as legal advisers
HYFLUX has appointed Clifford Chance and Cavenagh Law as its legal advisers in place of WongPartnership (WongP) after WongP applied to discharge itself earlier this week from representing Hyflux.
At a High Court hearing on Wednesday - as troubled water treatment firm Hyflux undergoes a restructuring - WongP cited a serious "loss of confidence" between itself and Hyflux, and other "good cause" as reasons for its withdrawal, The Business Times reported.
In a statement filed to the Singapore Exchange on Wednesday night, Hyflux confirmed that "on its part, it has lost confidence and trust in WongPartnership".
Middle Eastern utility provider Utico is offering a S$400 million rescue package to the debt-ridden firm, but Hyflux needs to get its creditors to agree to the deal.
At the hearing on Wednesday, Justice Aedit Abdullah had adjourned the hearing to Feb 20 to give Hyflux and WongP time to resolve the conflict, failing which, Hyflux would have to find alternative representation.