Insiders: Cryptocurrency Exchange Zipmex Attempts Restructuring Again

WikiBit 2023-11-30 14:18

Insiders have revealed that

cryptocurrency

exchange Zipmex is proposing to initially repay creditors around $0.0335 per $1 of debt as part of its restructuring proposal. However, recent court documents indicate that, based on the revised Zipmex $97 million debt restructuring plan's recovery scenario, the price per $1 of debt could rise to $0.2935. Insiders state that major creditors oppose the plan and are pushing for an independent review of the recent changes in Zipmex's assets and liabilities shown in the documents. The vote on the company's latest repayment plan will continue until early December. Zipmex Group CEO Marcus Lim stated that he couldn't comment on “ongoing plan arrangements as it's confidential.” He mentioned that the information obtained from insiders is inaccurate, but added that he would not comment further on it.

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