Zipmex has just released the latest news regarding the problems currently being faced.
The latest news is that a moratorium is being proposed in Singapore and Globally.
Zipmex Proposes Moratorium Singapore, Indonesia, and Global
It is reported that Zipmex is applying for a moratorium to obtain financial immunity in these adverse conditions.
A moratorium is a permit obtained from the government of a country so that a company gets immunity or delay from something related to the company’s operations.
In the case of Zipmex, this moratorium is the right of immunity so as not to be sued and not to be suddenly billed by creditors whose money is still held in the exchange’s wallet due to financial problems.
Zipmex is an exchange with its head office in Singapore, and currently, the first proposed moratorium is from Singapore.
It is reported that on July 22, 2022, Zipmex submitted a moratorium to the Singapore Government through five consultants and lawyers from Morgan Lewis Stamford LLC company.
This moratorium proposed against five Zipmex companies whose head office is in Singapore and several offices in other countries, including Indonesia. The five companies are,
- Zipmex Asia Pte Ltd
- Zipmex Pte Ltd
- Zipmex Company Limited (Thailand branch office)
- PT Zipmex Exchange Indonesia (Indonesian branch office)
- Zipmex Australia Pty Ltd (Australian branch office)
The moratorium has been permitted only within 30 days, So immunity only lasts 30 days.
Zipmex is currently applying for a permit to extend the moratorium by up to six months. The application schedule for the extension permit will be in court on July 29, 2022.
All creditors and those who feel their funds are still stored at Zipmex are allowed to attend but must report to Morgan Lewis Stamford LLC.
Recovery in Financial Immunity
This application was made so that Zipmex had room to move and think for six months to get the company back on its feet.
In addition to Singapore, Zipmex will also apply for a global moratorium so that companies worldwide that are tied to Zipmex cannot suddenly sue and collect debts.
Currently, the moratorium condition is 30 days of immunity against lawsuits and impromptu debt collection from companies in Singapore.
Zipmex also stated that the moratorium was not a way to express that Zipmex would go bankrupt at this time.
This statement is essential to understand because there is a difference between filing bankruptcy or bankruptcy and a moratorium or postponement of something, including debt collection.
Zipmex also assures that some of its services, such as the NFT platform and trading wallet, are still functioning. Access to withdraw funds is also running again except for Z Wallet.
In conclusion, for now, Zipmex is still looking for ways to return to the company’s and its platform’s expected conditions.
Zipmex ensured that even though the company’s condition was relatively low, all funds managed, especially investor funds, were still safe.
More News About Crypto : NEWS
Follow our Twitter : https://twitter.com/DinoDapps
