Hodlnaut’s Creditors Say No to Company’s Restructuring Plan
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Crypto lending platform Hodlnaut is considering liquidation following the rejection of a proposed restructuring plan by creditors, Bloomberg reports.
According to the publication, the proposal has suggested that the company execs retain the ability to oversee activities during the restructuring phase. The creditors have rejected the motion to remove the interim managers.
The committee thought it was a good idea to wind down and liquidate Hodlnaut’s remaining assets immediately in an attempt to maximize their value.
Recall that the Singapore-based crypto company suspended withdrawals, swaps and token deposits on August 8 and immediately went to court for protection from creditors.
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