WazirX Gets a Second Chance as Court Allows a Revote on Its Restructuring Plan
- The Singapore High Court has set aside its June 4 order and approved a revote on Zettai’s amended restructuring scheme.
- Zettai’s moratorium has been extended, and WazirX has urged creditors to participate in the new vote.
- If sanctioned, the scheme could allow WazirX to resume operations, with Zanmai facilitating creditor distributions.
The Singapore High Court has overturned an earlier decision and has now approved a fresh vote on a revised restructuring scheme for Zettai, a company entangled in the legal battle involving the crypto exchange WazirX.
According to an update posted by WazirX on the social media platform X, the court has also extended Zettai’s moratorium, which gives the company more time to secure creditor approval for its updated plan. If the scheme is ultimately approved by creditors and sanctioned by the court, WazirX could finally resume operations.
Potential Pathway to WazirX Platform Reopening
If the amended plan receives approval from the requisite majority of creditors and is sanctioned by the court, the currently inactive WazirX trading platform could reopen.
Now, WazirX is urging creditors and affected users to take part…
The post WazirX Gets a Second Chance as Court Allows a Revote on Its Restructuring Plan appeared first on Coin Edition.
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WazirX Gets a Second Chance as Court Allows a Revote on Its Restructuring Plan
- The Singapore High Court has set aside its June 4 order and approved a revote on Zettai’s amended restructuring scheme.
- Zettai’s moratorium has been extended, and WazirX has urged creditors to participate in the new vote.
- If sanctioned, the scheme could allow WazirX to resume operations, with Zanmai facilitating creditor distributions.
The Singapore High Court has overturned an earlier decision and has now approved a fresh vote on a revised restructuring scheme for Zettai, a company entangled in the legal battle involving the crypto exchange WazirX.
According to an update posted by WazirX on the social media platform X, the court has also extended Zettai’s moratorium, which gives the company more time to secure creditor approval for its updated plan. If the scheme is ultimately approved by creditors and sanctioned by the court, WazirX could finally resume operations.
Potential Pathway to WazirX Platform Reopening
If the amended plan receives approval from the requisite majority of creditors and is sanctioned by the court, the currently inactive WazirX trading platform could reopen.
Now, WazirX is urging creditors and affected users to take part…
The post WazirX Gets a Second Chance as Court Allows a Revote on Its Restructuring Plan appeared first on Coin Edition.
Read More