Zipmex Files For Two-Month Moratorium Extension
According to an announcement, the troubled cryptocurrency exchange Zipmex has filed for a two-month extension to the Singapore court handling its bankruptcy reorganisation.
The request was made after a potential takeover investor failed to make scheduled payments.
The investor, who is reportedly Thai investment firm V Ventures, claims the Scheme of Arrangement has expired and that the agreement no longer binds it. The investor was reported to have missed a $1.25 million payment in March.
Zipmex’s most recent update suggests further withdrawal delays, though the company has stated that it will negotiate with the investor to maximise returns.
(With inputs from Shikha Singh)
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