Hodlnaut creditors reject the restructuring plan, prefer liquidation
Hodlnaut downplayed its exposure to the Terra ecosystem, but an investigation into the embattled crypto lender shows it lost $190 million in the Terra crash. The Singapore-based troubled crypto lender is looking at a possible liquidation as the firm's creditors have rejected the proposed restructuring plan and are seeking liquidation of the platform’s assets. The group of creditors rejected a restructuring plan offer that allowed the current directors to look over the operations of the firm during the restructuring phase. However, a Jan. 12 hearing rejected an application to remove the interim judicial managers, reported Bloomberg. Cast your vote now! The creditor s believe restructuring plans are of no help, and it is in their best interest to wind down and liquidate the remaining assets of the firm. Algorand Foundation, one of the key creditor s of the Singapore-based crypto lender, called for immediate liquidation and distribution of remaining assets among creditor s to maxim...