Singapore court places Hodlnaut under judicial management

Embattled crypto lender Hodlnaut has been placed under interim judicial management (IJM), according to an August 29 announcement. According to the announcement, the court-appointed Ee Meng Yen Angela and Aaron Loh Cheng Lee, care of EY Corporate Advisors Pte. Ltd., as interim managers for the Singapore-based company. Aaron and Angela combined have over 50 years of experience in corporate recovery and restructuring engagements. According to Singapore legal advice, judicial management is a form of debt restructuring that places the affairs of a financially distressed firm under the management of an individual or entity.