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Home Crypto

Vauld is granted a 3-month protection from creditors for restructuring

by Reshab Agarwal
August 2, 2022
in Crypto, Crypto Exchanges, News
Reading Time: 2 mins read
0
Vauld's debts at over $400 Million

Credits: Business Today

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Vauld has been granted 3-month protection from its creditors. This will give them the necessary time required to restructure their organization and ensure they don’t go completely under. The parent company of Vauld initially put in a request for a 6-month protection period from creditors. However, that request was turned down by the Singapore High Court, citing the reason that a lengthy period “won’t get adequate supervision and monitoring.” After this, they were given a 3-month moratorium.

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How does it help Vauld?

For a period of 3-months, the company will be protected from legal cases initiated by its creditors, any kind of wind-up resolutions, and also the appointment of a manager or receiver. Not having to deal with any legal disputes will be the most important thing for Vauld here. And in reality, if Vauld is able to make it through, it will ultimately be beneficial for the creditors themselves.

Vauld is granted a 3-month protection from creditors for restructuring
Credits: Business Today

Another great thing about this moratorium is that the judge has assured to extend the time period if Vauld shows progress in paying back their creditors.

During this period, Vauld will restructure its firm and explore newer ways to get the business back on track. The company also plans to provide a form to its creditors, giving them an idea of recovery and repayment plans.

Vauld might be acquired by Nexo

A crypto lender firm Nexo has shown interest in acquiring Vauld and its assets. However, they are going to do their research before going ahead. Vauld and Nexo’s teams both are working on this, and Nexo is going to its due diligence for a 60-day period before acquisition.

If Vauld gets acquired by Nexo, that might be a good thing as well. The creditors and investors of Vauld might get their funds back as Vauld’s liabilities will now be Nexo’s responsibilities.

I am personally optimistic about Vauld, and I think they can turn things around. But again, you never know. And Vauld going under shows that no matter how many so-called financial influencers embrace a crypto platform, its not necessarily safe.


What ar your thoughts as Vauld is granted a 3-month protection from creditors? And do you think they will be able to turn things around? Let us know in the comments below. And, if you found our content informative, do like and share with your friends.

Also Read: Socios acquires a $102M stake in FC Barcelona studio for Web3.

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Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

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