Utico proposes paying Hyflux creditors by equity

Uploaded By:  Clarist Zablan Submitted By:  Clarist Zablan Case Study:  No The initial cash offer did not gain support from creditors. Utico is proposing to pay the creditors of embattled water treatment firm Hyflux and advisors with equity shares in place of cash, according to a letter filed in SGX. This follows after the initial restructuring agreement failed to gain approval from Hyflux board, the unsecured working group (UWG) and advisors, as well as explicit support from Securities Investors Association Singapore (SIAS). read more