The scheme meeting with creditors will be held on 22 April 2020. However, we are already seeing the senior management of Hyflux once again crossing sword with their own White Knight Utico. Yes, I used the word “again” because Hyflux also went into disagreement previously with their previous White Knight Salim Medco Group. Apparently, the current cracks in relationship came from the amount of legal and advisory fees pot of S$50Mil being committed. Utico is only willing to put up S$30Mil as the professional advisors of Hyflux and SIAS failed to show support for the scheme by 29 Jan 2020 court hearing. Original intention was S$50Mil for the professional services pot if show of support settled by end of Jan 2020 but unfortunately it was not to be due to various factors such as the emergence of another player, Aqua Munda, which offers to buy creditors’ debts at a minimum...