Judicial management is a rescue procedure to restructure a distressed company's debt. No part of this process precludes the judicial manager from working with a strategic investor. Neither does it mean shareholders will certainly receive nothing.
BT FILE PHOTO
FROM the get-go, the restructuring of Hyflux had placed special attention on the 34,000 perpetual and preference share (PnP) holders.
Every effort was made by the Securities Investors Association (Singapore) (Sias) to stave off a judicial management (JM) or liquidation scenario, in hopes...