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Singapore's Hyflux put under court-appointed management

Embattled water company's board members to take back seat in restructuring

Hyflux's restructuring will be led by specialist firm Borrelli Walsh, while current management will be sidelined in the process. 

SINGAPORE -- Hyflux will be placed under a court-appointed judicial manager, Singapore's high court ruled on Monday, a step forward for the water treatment company that has not been able to conclude any rescue deal since it filed for financial restructuring in 2018.

Restructuring firm Borrelli Walsh, as the appointed judicial manager, will lead Hyflux's restructuring, instead of company management, sidelining founder Olivia Lum and her team.

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