SINGAPORE (Feb 25): For much of the time since it was listed in 2001, water treatment company Hyflux was the poster child of entrepreneurship. In May 2018, however, the company announced it was seeking a court-supervised process to reorganise its debt and businesses. On Feb 16, it held a hastily arranged media briefing to explain the processes for restructuring, such as the scheme of arrangement for unsecured creditors, preference share and perpetual security holders, and a subsequent extraordinary general meeting (EGM) for equity holders.

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