Topic: Virtual currency
Baker & Partners grows its BVI office
A former Bedell Cristin partner who was British Virgin Islands counsel to crypto hedge fund Three Arrows Capital in the run up to its multibillion-dollar liquidation, has joined Baker & Partners after four years at her former firm.
23 November 2023
Hodlnaut enters liquidation as crypto liabilities held to be “debts” under IRDA
Distressed crypto lender Hodlnaut has entered liquidation in Singapore at the request of its interim judicial managers and against at least two of its directors’ wishes, after creditors refused to back a restructuring plan.
13 November 2023
Aubit International wound up after failed RO in Cayman
Digital asset manager Aubit International has been wound up in the Cayman Islands with an FTI Consulting duo appointed as liquidators, weeks after the Grand Court declined its petition to appoint restructuring officers.
27 October 2023
Australian court recognises South African and Hong Kong bankruptcies
A South African bitcoin Ponzi scheme’s Cape Town liquidation and the personal bankruptcy proceedings of a Hong Kong property billionaire have been recognised in Australia on the same day, shedding light on other international proceedings arising out of the two cases.
13 October 2023
Singapore court recognises Genesis subsidiary as foreign rep; creditors mount objections in the US
A wholly-owned subsidiary of cryptocurrency lender Genesis has obtained recognition as the lender’s foreign representative in Singapore under the UNCITRAL Model Law, as creditors mount objections to a recently-published restructuring agreement-in-principle in the US.
04 September 2023
Second Singaporean crypto scheme sanctioned becomes first to take effect
The operator of Singaporean cryptocurrency platform Vauld has secured sanction of a scheme of arrangement that will be the first such scheme to take effect in the Lion City, after another crypto lender, Zipmex’s, fell through.
30 August 2023
Singapore court extends Babel’s worldwide moratorium and anonymises creditor names
Cash-strapped cryptocurrency lender and asset management group Babel Finance has secured an extension to a Singaporean moratorium it obtained last month, as well as permission to keep the names of its creditors confidential.
27 April 2023
Zipmex secures scheme sanction as court permits “administrative convenience” class
Zipmex has become the first crypto platform to persuade a court to sanction a scheme restructuring its debts, having secured a landmark ruling in Singapore allowing it to exclude small retail creditors from voting on the scheme for “administrative convenience”.
06 April 2023
Crypto assets are property, Hong Kong court affirms
Cryptocurrency is property and capable of being held on trust, a Hong Kong court has ruled, in a landmark decision that puts it on the same footing as courts in five other common law jurisdictions and the US.
03 April 2023
Crypto exchange bankruptcies and DeFi lending: an English law response to the question of avoidable preferences
Howard Morris, head of business restructuring and insolvency at Morrison Foerster in London, considers whether and in what circumstances cryptoasset withdrawals from a distressed exchange might amount to avoidable preferences under English insolvency law.
23 February 2023