Zipmex, a troubled crypto exchange has filed in Singapore for bankruptcy protection Amid the threat of legal action from creditors
Morgan Lewis Stamford, a lawyer for Zipmex, filed five petitions on July 22 on behalf of the company’s entities, which could allow debt deferment of up to six months.
“This protects Zipmex from third party actions, claims, and actions. and enabling the team to devote all our efforts to solving the liquidity situation. without having to worry about safeguarding potential claims or adverse action while we are doing so.” Zipmex say
under the laws of Singapore Such filing provides for a waiver automatically for 30 days or until the Singapore court decides on the application. It depends on which case comes first.
The five entities are Zipmex Asia Pte. Zipmex Pte. Ltd., Zipmex Company Ltd (established in Thailand), PT Zipmex Exchange Indonesia and Zipmex Australia Pty. Ltd.
refer : LINK
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