Hatten Land files supplemental affidavit for interim judicial management application

The hearing for its application has also been set for 21 August.

Hatten Land has filed a supplemental affidavit to the Court of Singapore concerning its interim judicial management application.

The company said the court has also fixed a hearing for its application on 21 August at 9:45 a.m.

The application for interim judicial management is part of the company’s proactive efforts to aid its ongoing restructuring process.

Meanwhile, the company also announced that Victor Saw Seng Kee and Surendran A/L Sathya Seelan were appointed as joint and several receivers and managers "over all or any of the security assets as defined in the Debentures of GMSB," a wholly-owned subsidiary of Hatten Land.

The appointment suspends the powers of GMSB's directors to manage and deal with its charged assets.

"In this respect, the directors of GMSB are not able to continue to carry on GMSB’s business in any way nor enter into any commitment on behalf of GMSB without the prior written approval of the Receivers and Managers or their representatives," Hatten Land said.

Hatten Land said it has been seeking legal advice on this matter.