{"id":33536,"date":"2022-08-16T04:38:47","date_gmt":"2022-08-16T08:38:47","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=33536"},"modified":"2022-08-16T04:38:50","modified_gmt":"2022-08-16T08:38:50","slug":"crypto-lender-hodlnaut-seeks-for-creditor-protection-in-singapore","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-lender-hodlnaut-seeks-for-creditor-protection-in-singapore\/","title":{"rendered":"Crypto lender Hodlnaut seeks for creditor protection in Singapore"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-after-recently-halting-withdrawals-on-its-platform-crypto-lender-hodlnaut-is-filing-for-creditor-protection-in-singapore-this-would-prevent-any-legal-claims-and-procedures-from-being-brought-against-it-by-creditors\">After recently halting withdrawals on its platform, crypto lender Hodlnaut is filing for creditor protection in <a href=\"https:\/\/coinscreed.com\/staging\/vauld-keys-lost-singapore-cryptocurrency-exchange-halts-withdrawals.html\" target=\"_blank\" rel=\"noreferrer noopener\">Singapore<\/a>. This would prevent any legal claims and procedures from being brought against it by creditors.<\/h5>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"874\" height=\"497\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-25.png\" alt=\"Crypto lender Hodlnaut seeks for creditor protection in Singapore\" class=\"wp-image-32932\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-25.png 874w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-25-300x171.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-25-768x437.png 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-25-150x85.png 150w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-25-750x426.png 750w\" sizes=\"(max-width: 874px) 100vw, 874px\" \/><figcaption>Crypto lender Hodlnaut seeks for creditor protection in Singapore<\/figcaption><\/figure>\n\n\n\n<p>As it seeks to solve its liquidity crisis, the troubled Asian crypto lender Hodlnaut, which stopped client withdrawals last week, has applied for protection against creditors in Singapore.<\/p>\n\n\n\n<p>In announcing the information on Tuesday, Hodlnaut stated that the company had submitted an application to the <a href=\"https:\/\/www.google.com\/search?q=Crypto+lender+Hodlnaut+seeks+for+creditor+protection+in+Singapore&rlz=1C1SQJL_enNG889NG889&oq=Crypto+lender+Hodlnaut+seeks+for+creditor+protection+in+Singapore&aqs=chrome..69i57.1333j0j9&sourceid=chrome&ie=UTF-8\" target=\"_blank\" rel=\"noreferrer noopener\">Singapore High Court<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> on August 13 to be put under judicial administration, a procedure that would prevent any legal claims and procedures from being brought against it by creditors.<\/p>\n\n\n\n<p>Hodlnaut's action is comparable to those taken by <a href=\"https:\/\/coinscreed.com\/staging\/zipmex-set-to-resume-bitcoin-ethereum-withdrawals.html\" target=\"_blank\" rel=\"noreferrer noopener\">Zipmex <\/a>and Vauld, who both requested Singaporean creditor protection and were given roughly three months to settle their financial problems.<\/p>\n\n\n\n<p>Hodlnaut stated that it is collaborating with attorneys and seeks to prevent being forced to liquidate its assets at the present lower rates. On August 19, the company is anticipated to give its subsequent update.<\/p>\n\n\n\n<p>The Singapore High Court will designate a judicial manager\u2014an impartial officer of the court\u2014to supervise Hodlnaut as part of the court's judicial management procedure.<\/p>\n\n\n\n<p>But according to Hodlnaut, this procedure might take &#8220;up to a few months.&#8221; For that purpose, it has been asked to be designated as the interim judicial manager and then the judicial manager by Tam Chee Chong of Kairos Corporate Advisory.<\/p>\n\n\n\n<p>In order to allow customers to deposit and earn interest on their <a href=\"https:\/\/coinscreed.com\/staging\/hedge-fund-millennium-reminds-employees-to-declare-cryptocurrency-holdings.html\" target=\"_blank\" rel=\"noreferrer noopener\">cryptocurrency holdings<\/a>, Hodlnaut was launched in Singapore in 2019. The company stated that as of December of last year, it had over $500 million in assets under management and 10,000 active users.<\/p>\n\n\n\n<p>The funds of Hodlnaut's clients are still frozen while it is under judicial management. The company hasn't set a specific date for when withdrawals would probably start to be accepted.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>&#8220;We will be exploring available solutions on allowing our users to tap into emergency exit liquidity, but these are currently still subject to discussions and approvals by various stakeholders,&#8221; said Hodlnaut.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>After recently halting withdrawals on its platform, crypto lender Hodlnaut is filing for creditor protection in Singapore. This would prevent any legal claims and procedures from being brought against it by creditors. As it seeks to solve its liquidity crisis, the troubled Asian crypto lender Hodlnaut, which stopped client withdrawals last week, has applied for [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":32932,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[11105,4416,931],"class_list":["post-33536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-creditor-protection","tag-hodlnaut","tag-singapore"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-25.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/33536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=33536"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/33536\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/32932"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=33536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=33536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=33536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}