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As the “crypto winter” continues, a German crypto-focused digital banking platform has entered insolvency proceedings before a Berlin court, while crypto exchange CoinFlex has announced it is seeking to restructure in the Seychelles.
11 August 2022
Collapsed crypto network Voyager was a “house of cards, built on false promises and factually impossible representations," according to a class action complaint against US billionaire Mark Cuban and his Dallas Mavericks basketball team, who are accused of encouraging investment in the platform.
11 August 2022
Herbert Smith Freehills has hit back at claims by KPMG’s former restructuring leader for South East Asia that it acted in breach of contract by providing confidential information about his financial affairs to the Big Four firm.
10 August 2022
An investor that is set to acquire a majority shareholding in a struggling Singaporean restaurant operator does not need to make a mandatory offer for the company, after a local regulator waived the obligation while the company pursues a restructuring scheme.
08 August 2022
Hong Kong-listed gas group NewOcean Energy has been wound up in Bermuda, less than a year after it appointed soft touch provisional liquidators to help restructure its debts following the collapse of Singaporean oil trader Hin Leong.
05 August 2022
Singapore-headquartered cryptocurrency lender Vauld has won a three-month moratorium in the Lion City, blocking potential winding up actions and other proceedings against its parent company while it negotiates a sale.
03 August 2022
Digital assets group Zipmex has filed moratorium applications in Singapore for five of its international entities a week after it paused customer withdrawals, saying they would give it “the breathing space and time it requires” to restructure its debts.
01 August 2022
The British Virgin Islands joint liquidators of crypto hedge fund Three Arrows Capital have obtained Chapter 15 recognition in New York, with the court allowing certain secured creditors to enforce their debts.
29 July 2022
With the market reeling after crypto firms Three Arrows Capital, Voyager Digital and Celsius all sought bankruptcy protection in New York earlier this month, local lawyers compare the disarray to the collapse of Lehman Brothers, discuss the many novel legal issues that need to be resolved in the first Chapter 11 cases and predict crypto debtors will struggle to survive without completing M&A deals.
22 July 2022
The British Virgin Islands joint liquidators of crypto hedge fund Three Arrows Capital have obtained provisional relief in the US and Singapore, as they establish a creditors committee for the liquidation.
20 July 2022
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