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End of road for Hyflux as High Court approves its winding up
Move after 3-year restructuring bid means 34,000 retail investors likely to get nothing
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The Hyflux office in Bendemeer Road last November. The High Court ruling on Hyflux comes after former white knight Utico failed to meet minimum commitments to present a viable restructuring proposal before the hearing on the winding-up application that was filed by the water treatment firm's judicial managers.
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Beleaguered water treatment firm Hyflux has finally reached the end of the road after the High Court approved its winding up yesterday afternoon.
The move followed a three-year restructuring attempt that involved a number of twists.
