Hyflux creditors asked to file proof of claims by Feb 15

Singapore

HYFLUX's ongoing restructuring process threatens to be a complex one for several reasons, including that of its stakeholders' confusion over the filing of proof of claims.

The water-treatment company on Friday called on its creditors to file their proof of claims ahead of scheme meetings. The proofs, which will form a basis to vote on scheme proposals and to receive payments, have to be submitted by 5pm on Feb 15.

But for holders of the company's bonds, perpetual securities (perps) and preference shares, their holdings as recorded by the Central Depository (CDP) will be treated as proofs, even if these holders do not file their claims, Hyflux said in the filing.

Any party who is required to but does not file a proof of claim by the deadline will be barred from voting at scheme meetings and may not be entitled to any payments, subject to the discretion of the proposed chairman of the scheme…