Hyflux lenders seeking judicial management; Utico extends offer

Singapore

A GROUP of bank lenders is seeking to put Hyflux under judicial management (JM), after two years of a court-sanctioned restructuring process that has continued to leave creditors empty-handed.

An unsecured working group (UWG) of banks comprising Bangkok Bank, BNP Paribas, CTBC Bank, Mizuho, KfW, Korea Development Bank and Standard Chartered Bank plans to revive an earlier application to be carved out of Hyflux's debt moratorium, a Singapore High Court heard during Hyflux's case management conference on Thursday.