Hodlnaut's believers prefer liquidation instead of renovation plan (report)

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Some creditors of the needy cryptocurrency loan-Hodlnaut-are reportedly not enthusiastic about the proposed restructuring plan that could enable the company's directors.

Instead, they would rather see it in liquidation because they believe that this gives them access to their frozen assets.

  • According to the Bloomberg reporting, the most important creditors from Hodlnaut want the company to be liquidated as quickly as possible, in the hope that this "can be maximized the remaining assets of the company that is available for distribution".
  • They rejected the potential restructuring plan that allows directors (which are supposed to play a role in the affairs of the company) to continue the organization.
  • The Hodlnaut based in Singapore stopped withdrawal, deposits and token swaps in August last year, citing "difficult market conditions". It later trimmed the size of his team by 80 % and lowered its interest rates.
  • The crypto lender requested under judicial administration at the Singapore High Court to "rehabilitate his business" and to avoid forced liquidation of his assets.
  • The domestic authorities approved The calling and appointed Rajagopalan Seshadri, Paresh Jotangia and Ho May Kee.
  • Hodlnaut approved in October for a loss of almost $ 200 million due to his engagement in Terras Algorithmic StableCoin. Some sources stated that the organization was already aware of the financial damage months ago, but the truth hidden by deleting thousands of "key" documents.
  • Singaporian law enforcement officers have also done this Supposedly Hodlnaut of the customer fraud and initiated an examination.

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