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KS1983

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2021-07-30

[Facepalm]

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2021-07-21

:)

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2021-07-21

:)

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20:59","market":"sg","language":"en","title":"Singapore Court Favors Winding Up Hyflux in Sign Saga Ending By Ameya Karve","url":"https://stock-news.laohu8.com/highlight/detail?id=1175064507","media":"Bloomberg","summary":"Ruling comes after hearing was adjourned from July 12.\nHyflux judicial manager had applied to wind u","content":"<ul>\n <li>Ruling comes after hearing was adjourned from July 12.</li>\n <li>Hyflux judicial manager had applied to wind up company.</li>\n</ul>\n<p>A Singapore court on Wednesday ruled in favor of liquidatingHyflux Ltd., following a years-long saga in one of the city-state’s most high-profile distressed cases.</p>\n<p>The ruling came in a hearing that wasadjournedfrom July 12 afterUtico FZC, one of Hyflux’s suitors, asked to be heard on its application to intervene in the case. Hyflux said last month the judicial manager terminated discussions with United Arab Emirates-based Utico as it wasunableto meet the conditions required.</p>\n<p>The hearing comes after the court-appointed manager in charge of the troubled water-treatment company since November applied last month to wind up the firm. Judicial managerBorrelli Walsh Ltd.said in a statement in June that “the remaining value” of the Hyflux Group is best realized in a liquidation.</p>\n<p>The decision may cap a drawn-out saga around the company, which has left retail investors and creditors holding losses. Hyflux began a court-supervised debt restructuring process in May 2018 and faced about S$2.8 billion ($2.1 billion) of claims. It received multiple offers from several bidders along the way, none of which concluded.</p>\n<p>The court on Wednesday also asked Utico to pay S$5,000 to the judicial manager because it applied to be heard without having ownership of any Hyflux debt or tie-ups with any of its creditors. Even as the hearing sets Hyflux on the path to liquidation, the company still awaits probes from Borelli Walsh and several Singapore government agencies.</p>\n<p>Hyfluxsaidlast month that the judicial manager has gathered the information necessary to conduct thorough enquiries into the assets, business affairs and dealings of the group. In June 2020, Singapore authoritieslauncheda joint investigation into the firm and its directors that included suspected false and misleading statements and breaches of disclosure requirements.</p>\n<p>A piecemeal sale of Hyflux’s assets has already started, with the companyannouncingearlier this month thatKeppel Infrastructure Trustwill acquire from it the remaining 30% stake in a desalination plant for S$12 million. Bloomberg News had reported in June that sales in the liquidation process would likely bring in less than S$200 million, a fraction of the amount creditors are claiming.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Court Favors Winding Up Hyflux in Sign Saga Ending By Ameya Karve</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Court Favors Winding Up Hyflux in Sign Saga Ending By Ameya Karve\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-21 20:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-21/singapore-court-rules-in-favor-of-liquidating-hyflux-in-hearing><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Ruling comes after hearing was adjourned from July 12.\nHyflux judicial manager had applied to wind up company.\n\nA Singapore court on Wednesday ruled in favor of liquidatingHyflux Ltd., following a ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-21/singapore-court-rules-in-favor-of-liquidating-hyflux-in-hearing\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"600.SI":"凯发"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-21/singapore-court-rules-in-favor-of-liquidating-hyflux-in-hearing","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175064507","content_text":"Ruling comes after hearing was adjourned from July 12.\nHyflux judicial manager had applied to wind up company.\n\nA Singapore court on Wednesday ruled in favor of liquidatingHyflux Ltd., following a years-long saga in one of the city-state’s most high-profile distressed cases.\nThe ruling came in a hearing that wasadjournedfrom July 12 afterUtico FZC, one of Hyflux’s suitors, asked to be heard on its application to intervene in the case. Hyflux said last month the judicial manager terminated discussions with United Arab Emirates-based Utico as it wasunableto meet the conditions required.\nThe hearing comes after the court-appointed manager in charge of the troubled water-treatment company since November applied last month to wind up the firm. Judicial managerBorrelli Walsh Ltd.said in a statement in June that “the remaining value” of the Hyflux Group is best realized in a liquidation.\nThe decision may cap a drawn-out saga around the company, which has left retail investors and creditors holding losses. Hyflux began a court-supervised debt restructuring process in May 2018 and faced about S$2.8 billion ($2.1 billion) of claims. It received multiple offers from several bidders along the way, none of which concluded.\nThe court on Wednesday also asked Utico to pay S$5,000 to the judicial manager because it applied to be heard without having ownership of any Hyflux debt or tie-ups with any of its creditors. Even as the hearing sets Hyflux on the path to liquidation, the company still awaits probes from Borelli Walsh and several Singapore government agencies.\nHyfluxsaidlast month that the judicial manager has gathered the information necessary to conduct thorough enquiries into the assets, business affairs and dealings of the group. In June 2020, Singapore authoritieslauncheda joint investigation into the firm and its directors that included suspected false and misleading statements and breaches of disclosure requirements.\nA piecemeal sale of Hyflux’s assets has already started, with the companyannouncingearlier this month thatKeppel Infrastructure Trustwill acquire from it the remaining 30% stake in a desalination plant for S$12 million. Bloomberg News had reported in June that sales in the liquidation process would likely bring in less than S$200 million, a fraction of the amount creditors are claiming.","news_type":1},"isVote":1,"tweetType":1,"viewCount":85,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806204019,"gmtCreate":1627656035631,"gmtModify":1703494283804,"author":{"id":"3582630609450423","authorId":"3582630609450423","name":"KS1983","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"[Facepalm]&nbsp;","listText":"[Facepalm]&nbsp;","text":"[Facepalm]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/806204019","repostId":"1135197909","repostType":4,"isVote":1,"tweetType":1,"viewCount":251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}