Partner and Head of Restructuring and Insolvency Justin Chia was quoted in the Straits Times article titled "Still premature to talk about another Hyflux rescue attempt, court hears"

Eversheds Harry Elias Partner and Head of Restructuring and Insolvency Justin Chia was quoted in the Straits Times article titled "Still premature to talk about another Hyflux rescue attempt, court hears". The article was first published on 11 April 2019.

Still premature to talk about another Hyflux rescue attempt, court hears

Below is an excerpt from the article which features comments from Justin Chia:

It is still too premature to talk about another rescue plan for water treatment company Hyflux, the High Court heard on Thursday (April 11), even as its debt moratorium expires on April 30.

The update comes during a case management conference at the High Court, where a packed room of lawyers representing the embattled company’s many creditors sorted out details after Hyflux aborted a $530 million rescue deal with intended white knight SM Investments last week.

“....However, Mr Justin Chia of law firm Eversheds Harry Elias, who represents Ascendas Reit, said his clients have not called off two applications for the landlord to re-enter the Hyflux properties that it owns outside of the moratorium.

Ascendas Reit is the landlord of the Hyflux Building at Kallang Bahru, and the Hyflux Innovation Centre at Bendemeer Road.

“(We) have to see what the company is going to do from now on,” Mr Chia told the court, adding that the matter will be discussed in a future session.”

Full article can be found here. 

Source: The Straits Times

Author: Ng Jun Sen, Business Correspondent