Hyflux's white knight proposes changes to pot for adviser fees prior to court hearing
Singapore
AHEAD of an upcoming court hearing, Hyflux's white knight Utico has adopted a carrot-and-stick approach, proposing to either increase or decrease the pot for adviser fees, depending on whether the scheme receives the necessary support from all advisers at the hearing on Jan 29.
In a letter dated Jan 28 to the water treatment firm, Utico said it would raise the pot for adviser fees to S$50 million if it receives support from all advisers for the Hyflux scheme and restructuring agreement (RA) at the court hearing.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
IBM wins reversal of US$1.6 billion poaching award to BMC
Binance founder Zhao Changpeng gets 4 months in prison
Singapore Airlines could post highest-ever earnings of about S$2.7 billion for FY2024, says analyst
Amazon’s Twitch starts rival to TikTok in short-form video
Pinterest revenue surges on popularity of shopping push
Tesla axes most of Supercharger team in blow to other automakers