TechFlow news — The primary creditors of cryptocurrency lending platform Hodlnaut Pte have rejected a proposed restructuring plan and are instead favoring the liquidation of the company.
A filing submitted on January 11 by the court-appointed interim judicial managers of Hodlnaut indicated that liquidation best serves their interests. The Algorand Foundation, one of the creditors, stated in the filing that this step should be taken as soon as possible, "to maximize the utilization of the company's remaining assets available for distribution."
Previously, it was reported that the interim judicial managers of the bankrupt crypto lending platform Hodlnaut issued an update, stating that prior to the hearing for OA 451 scheduled for January 13, 2023, at 10:00 AM, they had solicited feedback from certain creditors regarding alternative restructuring proposals and subsequently updated the court accordingly.Original link
