SINGAPORE (May 22): Hyflux, the Singapore water treatment firm, is considering seeking a form of court protection to facilitate negotiations with creditors, people with knowledge of the matter said.

The company is considering asking the Singapore courts for a 30-day moratorium preventing creditors from taking certain actions that could hurt its financial position, according to one of the people.

The move would give Hyflux space to work out an arrangement with the creditors, the person said, asking not to be identified because the information is private. It may file an application as soon as Tuesday, the person said.

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