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Zipmex sues investor, proposes new scheme after US$100 million deal fails

Claudia Chong

Published Mon, Jul 3, 2023 · 08:23 PM

SINGAPORE-BASED crypto company Zipmex has taken legal action against its Thai investor, V Ventures, for allegedly backing out of a US$100 million rescue deal.

The deal would have resulted in Zipmex’s creditors, totalling more than 70,000, recovering all their funds.

With the plan now unlikely to succeed, the company has proposed a new scheme of arrangement.

KEYWORDS IN THIS ARTICLE

Crypto firm Zipmex’s investor pulls plug on US$100 million bailout
Crypto firm Zipmex’s buyout hits snag as investor seeks haircut
Crypto hearings in Singapore throw up quirks, legal novelties

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Startups

Zipmex sues investor, proposes new scheme after US$100 million deal fails

Claudia Chong

KEYWORDS IN THIS ARTICLE

Startups

Cruise operator Viking prices IPO within range to raise US$1.54 billion: source

Ninja Van axes more than 20 employees in tech team in Singapore

Temasek-backed PsiQuantum to build first commercial quantum computer

Fast-fashion giant Shein wants to sell skincare, toothpaste and toys, too

GoTo narrows Q1 loss to 420 billion rupiah with TikTok deal, cost cuts

Health-tech startup Thrixen bags US$7 million from 22Health Ventures, Aldevron co-founder

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