{"id":34748,"date":"2022-08-31T06:09:21","date_gmt":"2022-08-31T10:09:21","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=34748"},"modified":"2024-04-05T09:59:52","modified_gmt":"2024-04-05T13:59:52","slug":"crypto-lender-hodlnaut-under-interim-judicial-management","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/crypto-lender-hodlnaut-under-interim-judicial-management\/","title":{"rendered":"Crypto Lender Hodlnaut Under Interim Judicial Management"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-on-august-29-a-type-of-creditor-protection-called-interim-judicial-management-was-put-in-place-for-the-singapore-based-lender\">On August 29, a type of creditor protection called &#8220;<a href=\"https:\/\/www.google.com\/search?q=interim+judicial+management&sourceid=chrome&ie=UTF-8\" target=\"_blank\" rel=\"noreferrer noopener\">interim judicial management<\/a>&#8221; was put in place for the Singapore-based lender.<\/h5>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"541\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-252-1024x541.png\" alt=\"Crypto Lender Hodlnaut Under Interim Judicial Management \" class=\"wp-image-34751\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-252-1024x541.png 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-252-300x158.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-252-768x406.png 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-252-150x79.png 150w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-252-750x396.png 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-252.png 1066w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Crypto Lender Hodlnaut Under Interim Judicial Management <\/figcaption><\/figure>\n\n\n\n<p>Three weeks after it stopped withdrawals because of &#8220;difficult market conditions,&#8221; Hodlnaut has been put under interim judicial management (IJM), which is a form of creditor protection.<\/p>\n\n\n\n<p>In judicial management, the business, property, and assets of a troubled company are run by a third party. This is a type of debt restructuring. In this case, the company, <a href=\"https:\/\/coinscreed.com\/staging\/crypto-lender-hodlnaut-faces-singapore-police-sanctions.html\" target=\"_blank\" rel=\"noreferrer noopener\">Hodlnaut<\/a>, will also be safe from lawsuits from other people.<\/p>\n\n\n\n<p>On August 29, Hodlnaut's lawyers and two creditors who both put in nominations for IJM candidates attended a court hearing together. The judge put Ee Meng Yen Angela and Aaron Loh Cheng Lee in charge of Hodlnaut temporarily. They work for EY <a href=\"https:\/\/coinscreed.com\/staging\/former-ge-and-edelman-executive-joins-binance-as-chief-communications-officer.html\" target=\"_blank\" rel=\"noreferrer noopener\">Corporate Advisors<\/a> Pte. Ltd.<\/p>\n\n\n\n<p>Five days after it stopped withdrawals, Hodlnaut asked to be put under judicial management on August 13.<\/p>\n\n\n\n<p>The Singaporean lender was one of many crypto companies that failed when the market for cryptocurrencies went down. This year, a rival lender called Celsius Finance filed for bankruptcy, and the hedge fund <a href=\"https:\/\/coinscreed.com\/staging\/three-arrows-capital-to-seek-appropriate-sanctions-over-legal-filings.html\" target=\"_blank\" rel=\"noreferrer noopener\">Three Arrows Capital<\/a> fell apart because it had investments in the Terra\/LUNA ecosystem, which collapsed in May and wiped out $83 billion in market cap.<\/p>\n\n\n\n<p>When asked Hodlnaut for a comment, they didn't answer right away.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On August 29, a type of creditor protection called &#8220;interim judicial management&#8221; was put in place for the Singapore-based lender. Three weeks after it stopped withdrawals because of &#8220;difficult market conditions,&#8221; Hodlnaut has been put under interim judicial management (IJM), which is a form of creditor protection. In judicial management, the business, property, and assets [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":34751,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[4416,11220,931],"class_list":["post-34748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-hodlnaut","tag-judicial-management","tag-singapore"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/image-252.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/34748","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\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=34748"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/34748\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/34751"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=34748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=34748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=34748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}