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UTILITIES | , Singapore
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73 entities filed proofs of claims against Hyflux worth $3.51b

Unsecured facilities claims, which include claims from Mizuho and BNP Paribas, have reached $572.1m.

A total of 73 claimants have filed proofs of claim against Hyflux worth $3.51b, the utility revealed in an announcement.

The amount of facilities claims is at $572.1m. Some of the largest claimants of facilities claims are Mizuho Bank ($133.9m), Bangkok Bank ($115.6m), CTBC Bank ($40.2m), and BNP Paribas ($34m).

The KfW claim is at $136m, whilst the amount of notes claims is at $265m. Meanwhile, the amount of contingent claims is at $668.1m. Other claims are worth $11.3m.

Meanwhile, debt securities scheme parties, which comprise perpetual and preference shareholders, have made claims worth $900m. Subordinate parties filed claims worth $72.3m.

Scheme parties are entitled to vote at the scheme meetings that will be held on 5 April 2019 at Hyflux Innovation Centre.

If the scheme gets approved at the meetings, the court will hear sanction appeals on 8 April to 15 April 2019.

Hyflux’s scheme of arrangement becomes effective if it is approved by a majority (above 50%) representing at least 75% in value of each class of scheme parties present and voting at each scheme meeting, sanctioned by the court, and lodged with the Accounting and Corporate Regulatory Authority (ACRA). 

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