Hodlnaut Managers Release Circular to Creditors After Removal Plea

In an update on Oct. 12, the judicial managers of troubled crypto lender Hodlnaut released their sixth circular to creditors.

In the update, the interim judicial managers refer to a previous application filed by the company’s claimed creditor to remove them and appoint its last nominee, Tam Chee Chong, of Kairos Corporate Advisory Pte Ltd., as the IJM.

Plea to change managers

The circular noted, “After hearing from the parties, the Court stated that there were two possible ways for the matter to move forward.”

The appointed IJMs shall contest the plea filed by Simon Lee. For this, the IJMs will file their report by 27 October 2022 and circulate the same to the creditors; the creditors can file their reply affidavit by 24 November 2022.