WazirX looks to set-up committee of creditors as it plans on restructuring

Quick Summary:

At present, the creditor base is skewed towards low-value claims, WazirX said.

WazirX, whose parent company Zettai is based in Singapore, applied for restructuring at a Singapore court on August 23.

The crypto exchange platform is currently restructuring and seeking a white knight to provide capital and pursue partnerships and collaborations.

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Article Details

Category: BusinessFinance

Markets: IndiaSingapore

Topics: Crypto exchange Moratorium Cyberattack WazirX Liminal Custody Creditor claims Singapore court Restructuring Crypto theft Zettai $230 million crypto theft Committee of creditors

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-03 @ 14:49:48 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 474 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 22861422

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