Shares & Derivatives
Hyflux Utico Rescue Deal May End In Failure- Unsecured Creditors and Perpetual Securities Holders Still Unhappy
By Investment Income for Life  •  January 27, 2020
To pass the restructuring of Hyflux and accept the Utico rescue plan, the schemes of arrangement need to be approved by at least 75 per cent in value and 50 per cent in number of each creditor class. This seems to be in jeopardy based on the disgruntled retail creditors who attended the townhall on 20 January 2020. One  PnP investor who invested S$70K in Hyflux preference shares but only getting S$,1500 back under the proposed plan mentioned that he would rather vote against the Utico offer and let Hyflux go into liquidation so that he can join a class action suit against the Hyflux Board of Directors for running the business to the ground. Does it makes sense for disgruntled creditors and PnP holders to choose liquidation and pursue a lawsuit against the Board of Directors? My own personal thoughts are that it is not a wise move as the disgruntled...
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By Investment Income for Life
I am an Accountant by training and is currently working in a global MNC in the Supply Chain industry. During my free time, I enjoy reading up on topics such as stock investing, insurance planning and property investment. Since 2012, I have started penning down my thoughts on certain financial matters while striving to achieve financial independence.
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