Update On Moratorium Application
December 21, 2022
20 December 2022
Update on Moratorium Applications in Singapore
As mentioned in our announcement dated 17 December 2022, the following updates are material to creditors and stakeholders of the Zipmex Group:
- Zipmex Asia Pte Ltd’s application for super-priority for rescue financing has been assigned case number HC/SUM 4450/2022 (“SUM 4450”) and it has been fixed for hearing on Friday, 23 December 2022, 14:30 (UTC +8).
- In addition, the Zipmex Group has filed the 15th Affidavit of Lim Wei Xiong Marcus to update stakeholders on the Group’s monthly management accounts and financial situation.
The Singapore Court has issued directions as to the conduct of SUM 4450. In brief (all times in Singapore time):
- Any reply affidavit is to be filed by 21 December 2022, 12:00 (UTC +8);
- MLS is to write in with a list of parties who wish to attend the hearing by 21 December 2022, 16:00 (UTC +8);
- Any written submissions are to be filed by 22 December 2022, 16:00 (UTC +8); and
- Any creditor who is a corporation, or intends to contest the application, and intends to attend the hearing, must appoint a counsel with rights of audience in Singapore to represent it.
Copies of the 15th and 16th affidavit of Marcus Lim, the correspondence from Courts, and SUM 4450 have been compiled and can be downloaded at: https://www.dropbox.com/s/ojc406dvpmwwkwc/20%20Dec%202022.zip?dl=0
If you have been verified as a Zipmex user, you can access the documents with the same password previously provided. If you have not yet verified your email account as a user, customer, or creditor of any of the Zipmex Companies, please send an email to [email protected] for a verification check and you will be provided with the password to access the documents.
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