Hyflux creditors to file proofs of claim by new March 11 deadline

Troubled water treatment firm Hyflux has extended the deadline for its creditors to file proofs setting out their claims for the purpose of the scheme meeting to vote on the Utico rescue deal.

Creditors who have claims against Hyflux, Hyflux Engineering, Hyflux Membrane Manufacturing (S) and Hydrochem (S) are to file by 5pm on March 11.

A day before that, on March 10, there will be a court hearing when Hyflux's new lawyers Clifford Chance will apply for leave to convene the scheme meeting.

The previous deadline for filing the proofs was Feb 5.

The proofs will form a basis for the creditors - including bank lenders and trade creditors - to vote on the scheme proposals and to receive payments.

However, holders of the company's notes, perpetual securities and preference shares (PnP) are not required to file any proof. This is because the notes and PnP holdings are recorded in the Central Depository, and Hyflux will seek the High Court's leave to file a proof on the holders' behalf based on those records.

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The proofs will form a basis for the creditors - including bank lenders and trade creditors - to vote on the scheme proposals and to receive payments.

A version of this article appeared in the print edition of The Straits Times on February 29, 2020, with the headline 'Hyflux creditors to file proofs of claim by new March 11 deadline'. Print Edition | Subscribe