Hatten Land has received approval from the Singapore High Court for the appointment of Deloitte & Touche’s Tan Wei Cheong and Lim Loo Khoon as joint judicial managers, according to an Oct 14 bourse filing.
As joint judicial managers, Tan and Lim are expected to manage the group’s affairs, business and property.
On Aug 5, the company announced that it had filed an application in the General Division of the Singapore High Court to place the company under judicial management.
Hatten Land also applied to be placed under interim judicial management.
“The judicial management application and the interim judicial management application have been filed as a proactive measure to facilitate the ongoing restructuring efforts and to forestall any possible precipitate action by other creditors, in light of the latest developments of the group including the winding-up of an inactive subsidiary,” added Hatten Land PH0 in its Aug 5 announcement.
Currently, trading in Hatten Land’s shares has been halted since Aug 2. The suspension of the trading of the company’s shares was requested on Aug 5.
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Shares in Hatten Land last traded at 1.1 cents.
