Hyflux saga: Judge's bid for escrow funds to pay retail investors' advisers finds no takers
Singapore
THE Court on Tuesday attempted to find a back-stop measure for the advisers of some 34,000 retail investors in Hyflux's debt, by getting creditors to chip in towards an escrow amount that would help to pay the fees for the advisers of the preference shares and perpetual securities (PnP) holders and medium-term note (MTN) holders in the event of a liquidation.
This is because these advisers would be unable to look to Sias or the individual PnP holders for their fees should the Utico deal fall through.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Prosper Cap halts operations at UK hotel after fire breaks out
DBS chief expects 2024 earnings to hit new highs as Q1 profit rises 15% to S$2.95 billion
Banking giants race to Riyadh as MBS steps up pressure campaign
BlackRock, Citadel reap billion-dollar deals from Australia fund
Credit Suisse faces 50 billion won South Korea short-sale fine
Nvidia supplier SK Hynix says HBM chips almost sold out for 2025