The Singapore High Court nods in approval at the restructuring plan of Thai crypto exchange Zipmex. Customers can now rejoice as they will receive their deposits back.
Per the press release of Zipmex, the pre-packaged schemes of arrangement have been approved by the Singapore Court for Zipmex Asia Pte Ltd, Zipmex Pte Ltd, and Zipmex Australia Pty Ltd
The Singapore High Court has approved the creation of an “administrative convenience class” for creditors with assets in their wallets not exceeding $5,000. Along with that curt has allowed Zipmex’s request for three-week extension of creditor protection to last until April 23
Zipmex is also ordered to write their creditors to provide a status update on the restructuring by April 13, 2023.