Commentary

Time for Hyflux's company-led restructuring to end?

Hyflux has been living on borrowed time since it filed for bankruptcy protection in May 2018.PHOTO: ST FILE

SINGAPORE- Distressed water treatment firm Hyflux has been living on borrowed time since it filed for bankruptcy protection in May 2018 and obtained moratorium for nearly $3 billion in debt.

One wonders if the sword will finally fall on Nov 16 at a High Court hearing that is supposedly the last chance for Hyflux to come up with a firm restructuring deal with broad support. Observers say it will likely be put under judicial management if fails to do so.

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