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Singapore HC granted three months of creditor protection to crypto lending platform Vauld

Asset-backed crypto lending platform Vauld has been granted three months of creditor protection. The Singapore High Court’s Justice Aedit Abdullah granted Vauld’s parent company, DeFi Payments Pte Ltd, a moratorium that will last until November 7.

According to Bloomberg, as part of this protection, Vauld’s 1,47,000 creditors in Singapore will be barred from suing the company. While the platform requested a six-month extension, the judge stated that such a moratorium would not provide adequate supervision and monitoring. He did, however, add that the company may be granted an extension in the future based on its progress in engaging with its creditors.

by Siliconluxembourg

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by Gizmodo

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