Meanwhile, little-known suitor Aqua Munda has also stated its commitment to helping Hyflux complete its restructuring.
The challenge for Hyflux remains how it would knock out a restructuring agreement to satisfy its vast group of creditors – a problem it had since day one. Under judicial management, a court appoints independent managers to run the affairs of a financially distressed company in place of existing management, a move that is often looked upon favourably by creditors.
When that happens, the company’s massive group of 34,000 retail investors will likely “get nothing” given that they are at the bottom of the pecking order, he added.But retail investors can consider seeking recourse in other ways.
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Source: The Straits Times - 🏆 8. / 63 Read more »
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