Singapore Court Favors Winding Up Hyflux in Sign Saga Ending (1)

A Singapore court on Wednesday ruled in favor of liquidating Hyflux Ltd., following a years-long saga in one of the city-state’s most high-profile distressed cases.

The ruling came in a hearing that was adjourned from July 12 after Utico FZC, one of Hyflux’s suitors, asked to be heard on its application to intervene in the case. Hyflux said last month the judicial manager terminated discussions with United Arab Emirates-based Utico as it was unable to meet the conditions required.

The hearing comes after the court-appointed manager in charge of the troubled water-treatment company since November applied last month ...