Singapore Court Denies Crypto Firm Zipmex’s Moratorium Extension

The Singapore High Court dismissed struggling crypto exchange Zipmex’s application for an extension of creditor protection, according to the ruling.

• Application was denied due to lack of any further prospect of restructuring: Judge Aedit Abdullah wrote in the judgment released Friday
• Zipmex’s moratorium ended on Jan. 11
• “Thus, as things currently stand, by the Zipmex Group’s own admission, there is no further prospect of restructuring and the liquidation of its constituent companies is likely to be imminent,” Judge Abudllah wrote
• NOTE: Ailing Crypto Firm Zipmex Makes Another Attempt at Restructuring

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