Thu, Sep 21, 2023

Kroll Facilitates Successful Approval of Scheme of Arrangement for Vauld

Singapore - Kroll, the leading independent provider of global risk and financial advisory solutions, is pleased to confirm the successful completion and sanction by the High Court of the Republic of Singapore of a Scheme of Arrangement pursuant to section 210 of the Companies Act for Vauld, a Singapore-based cryptocurrency (“crypto”) exchange and lending platform.

This is one of the first successful schemes for a crypto business and was overwhelmingly approved with more than 90% support from voting creditors.

Kroll was appointed by Vauld as its restructuring advisor in June 2022.

The restructuring is forecast to provide recoveries of up to 93% on unsecured claims of USD325m held by approximately 150,000 global retail creditors with a first distribution of 36% to be paid by October 2023. All recoveries will be repaid in crypto, fulfilling majority creditor wishes to maintain their exposure to the market for the underlying tokens.

Vauld’s restructuring was led by Jason Kardachi and George Gwee of Kroll’s Singapore Restructuring practice.

About Kroll
As the leading independent provider of risk and financial advisory solutions, Kroll leverages our unique insights, data and technology to help clients stay ahead of complex demands. Kroll’s team of more than 6,500 professionals worldwide continues the firm’s nearly 100-year history of trusted expertise spanning risk, governance, transactions and valuation. Our advanced solutions and intelligence provide clients the foresight they need to create an enduring competitive advantage. At Kroll, our values define who we are and how we partner with clients and communities. Learn more at kroll.com.

For more information, contact:
Devonne Cusi
+1 212 450 8199
[email protected]


Stay Ahead with Kroll

Restructuring

Restructuring

Financial and operational restructuring and enforcement of security, including investigation, preservation and realization of assets for investors, lenders and companies.

Offshore Restructuring

Offshore Restructuring

Our Offshore Restructuring practice draws upon Kroll's broad financial services industry expertise to provide effective, timely advice and solutions.

Return to top