Successfully represented the Vauld group of companies in their restructuring by using Section 210 of the Companies Act 1967 – a flexible tool for companies seeking to restructure their debts in Singapore by way of a scheme of arrangement. This is the first time a cryptocurrency company successfully restructured its debts through a Court-sanctioned scheme in Singapore.
Vauld is a Singapore-based cryptocurrency exchange with operations in India. The restructuring presented many different and unique challenges (in contrast to the restructuring of a company in a conventional industry) and involved over 150,000 creditors globally, many of whom were Indian customers.
Partner Sheila led the case together with Associates Benedict Tedjopranoto and Naomi Lim.
