Alpha DX Group (SGX:VVL), an education technology firm under judicial management, said its judicial managers have applied to discharge the judicial management order and place the company into liquidation after failing to secure a rescue plan, according to a Tuesday filing on the Singapore Exchange.
The court accepted the application on March 10. A special hearing is scheduled for April 8 at 2:30 pm, Alpha DX said.
The company said no firm interests or proposed plans had emerged despite ongoing efforts by the judicial managers.
Alpha DX was placed under judicial management as part of a restructuring effort, but the failure to secure a turnaround plan has prompted the shift toward liquidation.
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