Key creditors of embattled crypto lender Hodlnaut Pte rejected a proposed restructuring plan and prefer to liquidate the company.
They said their interests are best served by winding the firm up, according to a Jan. 11 filing by Hodlnaut’s court-appointed interim judicial managers seen by Bloomberg News.
Such a step should be taken as soon as possible “to maximize the company’s remaining assets available for distribution,” Algorand Foundation, one of the creditors, wrote in the filing.
Singapore-based Hodlnaut, which also has operations in Hong Kong, halted withdrawals in August and was granted protection from creditors.
The firm downplayed its exposure ...
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