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Hyflux admits $2.81b in claims after adjudication

Hyflux admits $2.81b in claims after adjudication

Sum includes $970m claimed by holders of preference shares, perpetual securities.

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Tuaspring default threatens Hyflux restructuring deal

Tuaspring default threatens Hyflux restructuring deal

SM Investments may assert right to terminate agreement if Tuaspring does not remedy PUB's default notice

Categories: Headlines
Hyflux takes $916m impairment for Tuaspring, other assets

Hyflux takes $916m impairment for Tuaspring, other assets

Troubled firm's latest financial statement submitted to court

Categories: Headlines
Sias urges Hyflux senior creditors to give up more for perp and pref holders

Sias urges Hyflux senior creditors to give up more for perp and pref holders

Sias president David Gerald has suggested this to the Hyflux board, which has since asked its advisers to speak to the senior unsecured creditors.

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Hyflux gets court order for April 5 scheme meeting

Hyflux gets court order for April 5 scheme meeting

Justice Aedit Abdullah also ruled that holders of Hyflux's S$400 million perpetual preference shares issued in 2011 and S$500 million perpetual capital securities issued in 2016 will be schemed as one class.

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Opposition politician avoids bankruptcy over loan

Opposition politician avoids bankruptcy over loan

A bankruptcy application taken against opposition politician Lim Tean by a Shanghai businessman over a US$150,000 (S$203,000) loan was formally withdrawn in the High Court yesterday.

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Singapore High Court confirms permissibility of litigation funding for insolvency claw-back claims in context of bankruptcy

In Re Fan Kow Hin, the SHC held that funding agreements that have the effect of assigning and selling a proportion of the benefits or proceeds of insolvency claw-back claims are permissible in the context of bankruptcies.

Hyflux plan could see heavy losses for investors

Hyflux plan could see heavy losses for investors

Beleaguered firm says investors and creditors would get less if it were to go into liquidation.

Categories: Headlines
Hyflux can gain up to $258m working capital

Hyflux can gain up to $258m working capital

Decision lies with investors voting on deal that will see 60% of firm's share capital going to consortium.

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Singapore’s new “omnibus” Insolvency, Restructuring and Dissolution Bill

We discuss the key changes, and examine what the latest amendments mean for creditors, debtors and other stakeholders.

Developments in Restructuring & Insolvency in 2018

In 2018, the legal advancements in Restructuring & Insolvency have been swift and significant. This update looks at some of the noteworthy developments.

Supreme Court Case Summary: SCK Serijadi Sdn Bhd v Artison Interior Pte Ltd [2019] SGCA 05

CA holds that a judgment creditor does not become a secured creditor by virtue of having served a garnishee order nisi on a garnishee before a judgment debtor is placed under winding up.

A last resort legal option for a trustee in bankruptcy?

This article discusses the legal basis for a Trustee in Bankruptcy to apply to Court for a forced-sale order of a private property that is co-owned by a bankrupt, where the other co-owners are unable/refuse, to buy out the bankrupt’s interest in the property, and also refuse to sell the property in the open market. 

Re Fan Kow Hin [2018] SGHC 257

Insolvency Law — Bankruptcy

Re IM Skaugen SE and other matters [2018] SGHC 259

Companies — Schemes of arrangement

Companies — Schemes of arrangement
1903 STEP UK
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