Express

Creditors of Troubled Crypto Lender Hodlanut Propose Liquidation of Company

Tris Bell

Summary: Several creditors of troubled Singaporean lender Hodlanut have proposed a liquidation of the company instead of a restructuring, according to a court filing by Hodlanut’s judicial managers. The creditors that opposed the restructuring included Samtrade Custodian Limited and Algorand Foundation. These creditors have claims totalling $228 million Singaporean dollars (US$170 million). Creditors initially proposed a ...

Several creditors of troubled Singaporean lender Hodlanut have proposed a liquidation of the company instead of a restructuring, according to a court filing by Hodlanut’s judicial managers.

The creditors that opposed the restructuring included Samtrade Custodian Limited and Algorand Foundation. These creditors have claims totalling $228 million Singaporean dollars (US$170 million).

Creditors initially proposed a liquidation in January. According to Algorand Foundation, the liquidation would maximize Hodlanut's assets for distribution.

Author: Tris Bell

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