2 years ago
Simon Lee and Zhu Juntao, co-founders of bankrupt crypto lender Hodlnaut person reportedly submitted a connection to merchantability their concern alternatively of liquidating its assets.
Holdnaut filed for bankruptcy extortion backmost successful August, aft losing astir $190 to the Terra-Luna collapse. An interim judicial manager was appointed to negociate its affairs and figure retired however champion to compensate investors.
Hodlnaut’s interim manager had earlier projected a restructuring program that would excavation unneurotic the company’s assets and contented a caller token to creditors.
In response, a radical of Hodlnaut creditors rejected the restructuring program stating that their involvement volition beryllium champion served if the institution is liquidated.
Hodlnaut co-founders Simon Lee and Zhu Juntao person submitted an affidavit to the tribunal seeking to merchantability the concern alternatively of liquidating its assets, Bloomberg reports connected March 1.
Lee said that selling the crypto lender volition assistance maximize worth for its creditors and summation the idiosyncratic basal of its investors.
“Hodlnaut idiosyncratic basal tin beryllium acquired and on-boarded connected digital-asset platforms owned oregon affiliated to specified investors,” Lee added.
Lee and Juntao are reportedly successful talks with imaginable investors to finalize the details of selling the bankrupt crypto lender.
The station Holdnaut co-founders opt to merchantability bankrupt crypto lender appeared archetypal connected CryptoSlate.
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