Hodlnaut Interim Judicial Managers Propose Restructuring Plan

The interim judicial managers of embattled cryptocurrency lender Hodlnaut have proposed a preliminary restructuring plan which needs to be discussed with creditors, company directors, other stakeholders and any potential investors.

• The plan proposes pooling together the digital assets held by the group and managed by company directors to execute trades to “yield profits” under oversight, according to a copy of IJM report seen by Bloomberg News
• It also proposes issuing a new token as part of the restructuring
• The IJMs reiterated their concerns about lack of proper accounting records and their inability to access Hodlnaut’s Hong Kong books
• NOTE: Hodlnaut, ...