I was very disappointed last month when the Court again grant Hyflux another 2 months extension of the debt moratorium again. It was alleged that the predominately show stopper was the inability of the senior management of Hyflux to resolve the cap of S$25Mil imposed by Utico over professional and advisors’ fees in the restructuring agreement. Power struggle over board representation was also alleged to be the other issues holding back the signing of the restructuring and capital injection agreement by Utico. The absolute lack of meaningful progress was even after Utico has managed to get creditors’ approval for the restructuring agreement and many perpetual retail investors got a very good deal relative to the first rescue package from Salim-Medco. Small retail investors could get as much 50% cash redemption. It was reported that Hyflux retail perpetual securities and preference (PNP) shareholders could get between "$50 million minimum to $150...