Asset-backed crypto lending platform Vauld has been granted three months of creditor protection. The Singapore High Court’s Justice Aedit Abdullah granted Vauld’s parent company, DeFi Payments Pte Ltd, a moratorium that will last until November 7.
According to Bloomberg, as part of this protection, Vauld’s 1,47,000 creditors in Singapore will be barred from suing the company. While the platform requested a six-month extension, the judge stated that such a moratorium would not provide adequate supervision and monitoring. He did, however, add that the company may be granted an extension in the future based on its progress in engaging with its creditors.
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Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.
Asset-backed crypto lending platform Vauld has been granted three months of creditor protection. The Singapore High Court’s Justice Aedit Abdullah granted Vauld’s parent company, DeFi Payments Pte Ltd, a moratorium that will last until November 7.
According to Bloomberg, as part of this protection, Vauld’s 1,47,000 creditors in Singapore will be barred from suing the company. While the platform requested a six-month extension, the judge stated that such a moratorium would not provide adequate supervision and monitoring. He did, however, add that the company may be granted an extension in the future based on its progress in engaging with its creditors.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.
