Creditors of crypto lender Hodlnaut rejected a restructuring plan for the company, according to a Bloomberg report that cited a Jan. 11 filing.
Their preference is for the liquidation of the firm, saying it better serves their interests, according to the filing prepared by Hodlnaut’s interim judicial managers, Bloomberg said Friday.
The proposed restructuring plan would have allowed Hodlnaut directors who were at the helm during its collapse to continue managing the company. Liquidation would “maximize the company’s remaining assets available for distribution,” one of the creditors, Algorand Foundation, wrote in the filing.
Hodlnaut froze withdrawals in August and was placed under interim judicial management (IJM), a form of de…
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