Update On Moratorium Application

December 17, 2022

17 December 2022

Update on Moratorium Applications in Singapore

The following updates are material to creditors and stakeholders of the Zipmex Group:

  • First, 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).
  • SUM 4450 is supported by the two affidavits (the 14th and 16th Affidavit of Marcus Lim filed on 15 December 2022 and 16 December 2022 respectively).
  • In addition, the Zipmex Group has filed the 15th Affidavit of Marcus Lim 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 affidavits in response are to be filed by 20 December 2022, 12:00 (UTC+8);
  • 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 foregoing documents as well as the correspondence from Court containing the aforementioned directions can be downloaded at: https://www.dropbox.com/s/xzgzbrw16f1r6tx/16%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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