Hodlnaut’s latest application is also expected to offer the company a much-needed breathing space to focus on its recovery plan.
As such, an independent officer of the Court will be appointed in place of Hodlnaut’s directors to oversee the company. This process is also expected to offer some respite as it provides a moratorium against legal claims and proceedings against Hodlnaut.The main aim, as noted by the crypto lender in its recent, is to avoid a forced liquidation of its assets.
“In order to ensure that Hodlnaut is able to prepare and execute its recovery plan, especially given the robust and volatile nature of the crypto industry, we have applied for our proposed Judicial Manager to be appointed as Interim Judicial Manager to step into the shoes of the directors and keep the company running smoothly.”
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