Singapore-based cryptocurrency lending service Hodlnaut has filed a wind-up order with the court, signaling its intention to liquidate its remaining assets. This move comes after more than 17,000 creditors voted against a restructuring plan for the company in favor of liquidation. The winding-up process will be carried out under the provisions of the Insolvency, Restructuring, and Dissolution Act of 2018. Former interim judicial managers, Aaron Lee and Angela Ee, have been appointed as joint and several liquidators by the High Court of Singapore. They have acknowledged the challenges posed by the large number of creditors and have assured them that efforts will be made to address individual queries and provide regular updates. It is important to note that the liquidation proceedings do not imply an admission of any outstanding debts owed by Hodlnaut to its creditors. The company faced financial turmoil due to its exposure to the collapsed Terra ecosystem and the freezing of assets on FTX.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Asia
Countries	🇸🇬
Sentiment	negative
Relevance Score	1
People	Aaron Lee, Angela Ee
Companies	Restructuring, FTX, and Dissolution Act of 2018, TerraLUNA, Hodlnaut, Insolvency
Currencies	HairyPlotterFTX, terraluna
Securities	None