Utico

The ruling came in a hearing that was adjourned from July 12 after Utico attempted to intervene.

Some investors have hoped the government would step in to help, despite it repeatedly rejecting calls to bail out Hyflux, saying the restructuring is a “commercial matter.”

(Jan 30): Singapore’s highest-profile distressed company, Hyflux, faces more woes after its legal adviser said it plans to walk off.

Quoteworthy

The development is an added complication in Singapore’s highest-profile restructuring case, which has left some 34,000 retail investors in the lurch.

SINGAPORE (Dec 2): "Democracy is alive and well" — Ronny Tong, pro-Beijing member of Hong Kong’s Executive Council, following the landslide victory of pro-democracy candidates at the recent local elections

SINGAPORE (Sept 30): Distressed water treatment company Hyflux has bought itself yet more time, after the High Court on Monday granted another two-month extension of its debt moratorium to Dec 2.

SINGAPORE (Sept 2): “What Elon Musk wants to produce is a lifestyle. We are not interested in a lifestyle. We are interested in proper solutions that will address climate problems.” — Masagos Zulkifli, Singapore’s minister for environment and wate