SINGAPORE (Mar 18): Embattled water treatment company Hyflux saw a total of 66 companies file proofs of claims, the company reported on Wednesday. 

The amount claimable totalled to a whopping $3.1 billion. The natures of these claims ranged from syndicated loans and professional services, to preference shares and bank guarantees. 

The group had called for investors to file proofs that set out their claims for the purpose of the scheme meetings to vote on the Utico plan on Jan 9. 

Parties who had claims against Hyflux, Hyflux Engineering, Hyflux Membrane Manufacturing (Singapore) and Hydrochem (Singapore) were asked to file them by 5pm on Feb 5. This deadline was later extended on two separate occasions to Feb 27, and then March 11 thereafter. 

These proofs would then form a basis for the creditors, which include bank lenders and trade creditors, to vote on the scheme proposals and to receive payments.

Among the claimants were DBS and Standard Chartered, each with respective claim amounts of $98.7 million and $76.7 million. 

Mizuho Bank, too, has filed claims worth $193.7 million, citing a combination of syndicated and bilateral loans, as well as project delivery guarantees. 

In March 2018, when a $530 million investment from Indonesian investment group Salim-Medco was still on the table, some 73 parties had filed proofs of claim amounting to $3.51 billion. 

Debt-laden Hyflux owes $900 million in perpetual securities and preference shares (PnP) principal value to some 34,000 mom and pop investors who have been left in the lurch with little hope of recovering their investments.