Court places Hodlnaut under judicial management
Join Our Telegram channel to stay up to date on breaking news coverage A Singapore Court has placed a popular crypto lending firm, Hodlnaut, under Interim Judicial Management (IJM). The development manifested as part of the measures solicited by the firm to revamp its financial challenges . Hodlnaut will now be legally immune to proceedings from third parties. IJM usually manifests as a legal approach to carrying out debt restructuring. It allows several persons to effectively manage a troubled firm’s businesses, assets, and operations. The crypto lender’s legal team introduced two firm creditors to the court on Monday’s hearing. The two creditors then submitted their nominations for IJM candidates. Afterward, the Judge announced the appointment of Ee Meng Yen Angela and Aaron Loh Cheng Lee, care of EY Corporate Advisors Pte. Ltd., as Hodlnaut’s interim judicial managers. Hodlnaut is facing liquidity issues Hodlnaut recently joined the growing li...