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The Singapore High Court has granted the troubled crypto lender Vauld, which has been undergoing bankruptcy proceedings for roughly one year, its permission to restructure its According to the results, a total of 6,721 legitimate votesrepresenting USD253,139,730.25 in approved claimshave been cast. Mr. Luke Furler, the court-appointed Independent Assessor Between to J creditors cast their votes. The company declared the results today. Officially announcing the same on Telegram, a Vauld team representative wrote And, it's difficult for creditors to get all the information they need in order to make and objective, informed decision when it is time to vote on Vauld's future. The next step comes up at next Singapore-based crypto lending platform Vauld’s payback scheme has been approved and creditors could receive payback soon. Over 90% of the creditors who participated voted in Only VRT Scheme Creditors will derive the benefit of reduction in claims as a result of successful Initial RDA bids having their associated Approved Claims being written It remains to be seen whether Vauld is able to get its MWD program approved by creditors. If not, the company could go into liquidationa process that can take

Vauld Creditors Cast 6,721 Votes Representing $253 Million in Approved Claims: What Happens Next?

Troubled crypto lender Vauld, currently undergoing bankruptcy proceedings in Singapore, has seen its creditors cast a significant number of votes regarding its restructuring plan. The Singapore High Court has granted Vauld permission to restructure. According to the results, a total of 6,721 legitimate votes representing USD253,139,730.25 in approved claims have been cast, according to a company announcement made today. The results stem from a vote conducted between Vauld's creditors. Mr. Luke Furler, the court-appointed Independent Assessor, oversaw the process.

This crucial vote represents a pivotal moment for Vauld and its creditors. The company officially announced the results on Telegram, with a Vauld team representative writing about the update. The next step comes up at next Singapore-based crypto lending platform Vauld’s payback scheme has been approved and creditors could receive payback soon. Over 90% of the creditors who participated voted in favor.

However, the process hasn't been without its challenges. It's often difficult for creditors to get all the information they need in order to make and objective, informed decision when it is time to vote on Vauld's future. Only VRT Scheme Creditors will derive the benefit of reduction in claims as a result of successful Initial RDA bids having their associated Approved Claims being written down.

Looking ahead, it remains to be seen whether Vauld is able to get its MWD program approved by creditors. If not, the company could go into liquidation—a process that can take a significant amount of time. The high volume of votes, representing a substantial amount of approved claims, indicates the significant interest and investment at stake for Vauld's creditors. Stay tuned for further updates as Vauld navigates this critical phase of its restructuring.

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