Topic: Virtual currency

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 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

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

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

While acknowledging the limited regulatory guidance currently in place, managing partner Kyle Broadhurst and Richard Parrish from Cayman boutique Broadhurst provide a brief overview on how at least seven different jurisdictions are approaching the treatment of crypto assets in insolvency.

06 February 2023

Despite an escalating war of words at the start of last week, the team behind bankrupt cryptocurrency platform FTX’s Chapter 11 case and the securities regulator of the Bahamas and its appointed liquidators have agreed to cooperate.

09 January 2023

After a New York court ruled this week that bankrupt crypto brokerage Celsius owns funds deposited by thousands of investors, lawyers in the US and Singapore tell GRR the decision provides important drafting lessons and may prove a useful precedent for FTX customers.

06 January 2023

Cryptocurrency lender Genesis is facing a class action arbitration claim from three investors who accuse it of conducting a billion-dollar sham transaction to conceal that it has been insolvent for months.

06 January 2023

The US court overseeing the Chapter 15 proceedings of crypto hedge fund Three Arrows Capital has approved a cooperation protocol with its Singaporean and British Virgin Islands counterparts, and ordered the fund’s founders to produce documents - as as a presentation from the fund’s liquidators in the US docket reveals actions in Canada and the Seychelles.

13 December 2022

Crypto group Zipmex has secured an extension of its Singaporean moratoria, but a local judge criticised its advisers for failing to keep the court informed of developments at its Indonesian subsidiary.

06 December 2022