Sen Yue to oppose the judicial management applications by DBS
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SEN Yue will contest the judicial management applications by creditor DBS at hearings in April and May.
The waste-management firm said in a regulatory statement on Friday that it will oppose the interim judicial management applications to be heard on April 1, and the judicial management applications fixed for hearing on May 10.
Sen Yue and SMC Industrial, its wholly owned subsidiary, are facing the applications from DBS. SMC owes the bank around S$5.9 million and has about US$9 million outstanding, plus all accrued interest and legal costs on an indemnity basis.
The Catalist-listed firm said that Hong Kong and Shanghai Banking Corp is participating as a creditor in the applications, but it did not say whether this bank is supporting or objecting to the applications.
Its shares last traded at 2.2 Singapore cents in April last year, before it requested for a trading halt.
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