On Aug 5, the company announced that it had filed an application in the General Division of the Singapore High Court to place the company under judicial management.
Hatten Land also applied to be placed under interim judicial management.
“The judicial management application and the interim judicial management application have been filed as a proactive measure to facilitate the ongoing restructuring efforts and to forestall any possible precipitate action by other creditors, in light of the latest developments of the group including the winding-up of an inactive subsidiary,” added Hatten Land in its Aug 5 announcement.
Currently, trading in Hatten Land’s shares has been halted since Aug 2. The suspension of the trading of the company’s shares was requested on Aug 5.
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Shares in Hatten Land last traded at 1.1 cents.
