{"id":72510,"date":"2023-01-13T16:38:00","date_gmt":"2023-01-13T14:38:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72510"},"modified":"2025-09-09T01:05:57","modified_gmt":"2025-09-08T22:05:57","slug":"hodlnaut-creditors-rejected-restructuring-plan","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hodlnaut-creditors-rejected-restructuring-plan\/","title":{"rendered":"Hodlnaut creditors rejected restructuring plan"},"content":{"rendered":"<p>The crypto-lending platform Hodlnaut is considering liquidation after creditors rejected the proposed restructuring plan. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-13\/singapore-crypto-firm-hodlnaut-s-creditors-seek-its-liquidation\"> Bloomberg<\/a> reports.<\/p>\n<p>The proposal envisaged allowing the firm&#8217;s current top management to oversee activities during the restructuring. Creditors rejected the petition to remove the interim managers.<\/p>\n<p>The committee deemed it prudent to wind down and immediately liquidate the remaining Hodlnaut assets to maximise their value.<\/p>\n<p>On August 8, the Singapore-based crypto company <a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-crypto-lending-platform-halts-withdrawals\">paused withdrawals<\/a>, swaps and token deposits. Hodlnaut immediately sought <a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-seeks-court-protection-in-singapore-from-creditors\">court protection from creditors<\/a>.<\/p>\n<p>The platform also<a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-lays-off-80-of-staff-to-trim-costs\"> laid off 80% of staff<\/a> to cut costs.<\/p>\n<p>The company acknowledged <a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-reports-a-193-million-hole-in-its-balance-sheet\">a capital shortfall of $193 million<\/a>. Of this amount <a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-losses-from-terra-collapse-estimated-at-190-million\">nearly $190 million<\/a> is linked to losses suffered by the platform as a result of <a href=\"https:\/\/forklog.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\">the Terra ecosystem collapse<\/a>.<\/p>\n<p>In September it emerged that Hodlnaut <a href=\"https:\/\/forklog.com\/en\/news\/hodlnaut-owes-algorand-foundation-35-million-foundation-says\">owed $35 million<\/a> to the Algorand Foundation, a non-profit organization.<\/p>\n<p>In November, Singapore police<a href=\"https:\/\/forklog.com\/en\/news\/singapore-police-open-investigation-into-hodlnaut\"> opened an investigation<\/a> into the company and its leadership over allegations of deceit and fraud.<\/p>\n<p>Read ForkLog\u2019s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crypto-lending platform Hodlnaut is considering liquidation after creditors rejected the proposed restructuring plan. Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":72511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1162,2324],"class_list":["post-72510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-court-cases","tag-hodlnaut"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=72510"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72510\/revisions"}],"predecessor-version":[{"id":72512,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72510\/revisions\/72512"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/72511"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=72510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=72510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=72510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}