The restructuring of the corporation will be overseen by the new management.
The bulk of the company’s debtors are individual depositors, and are owed roughly $400M.
Singaporean cryptocurrency lender Vauld, which has been going through bankruptcy proceedings since August 2022, recently announced that it has been granted permission to reorganize its board. The restructuring of the corporation will be overseen by the new management.
Vauld’s co-founder Darshan Bathija announced on Twitter on August 24 that the firm had been successful in having a Singapore court approve their scheme of structure. A new chief executive officer, a creditor representative, and a scheme manager will join the board to implement the strategy.
Multiple Extensions
Existing clients of the platform will need to resubmit verification papers since Know Your Customer checks have been resumed. Flipvolt Technologies, Vauld’s Indian subsidiary, had $46.4 million in its possession when Indian authorities raided it f
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