Crypto lending platform Vauld has received approval for more time to restructure.
Vauld’s creditor protection expires on February 28. The company applied to the Singapore court for a further extension of creditor protection.
Vauld’s Creditor Protection Expired February 28 Extended
The deadline for the creditors protection plan Vauld had to submit to the court was February 28. The company has applied to extend this period. The decision was in favor of the company.
Singapore-based cryptocurrency lender Vauld has received another extension by a court in Singapore to present its restructuring plan, providing protection from its creditors until March 24.
A Vauld spokesperson said:
“Motorium has been extended until March 24, 2023. There will be another hearing scheduled before this to confirm the final decision regarding the approval of the program.”
Troubled cryptocurrency lender Vauld has received an extension in its creditor protection program, the firm said in a statement.
Backed by PayPal co-founder Peter Thiel, the lender applied for creditor protection in Singapore earlier this year. In the process, Vauld’s assets in India were frozen.
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