Update On Moratorium Application
March 22, 2023
22 March 2023
Update on Moratorium Applications in Singapore
Our solicitors in Singapore, Morgan Lewis Stamford LLC, have informed us that they have filed the 2nd Affidavit of Akalarp Yimwilai in HC/OA 381/2022.
In addition, the following updates are material to creditors and stakeholders of the Zipmex Group:
- The applications for approval of scheme of arrangement have been assigned case numbers HC/OAs 250 to 252 of 2023; and
- The applications for extension of moratorium order have been assigned case numbers HC/SUMs 754 to 758 of 2023.
Each of these applications has been fixed for hearing on 30 March 2023 at 10:00 (Singapore time).
The Singapore Court has issued directions as to the conduct of HC/OAs 250 to 252 of 2023 and HC/SUMs 754 to 758 of 2023. In brief:
- Any affidavits in response are to be filed by 24 March 2023, 16:00 (Singapore time);
- Any reply affidavit is to be filed by 27 March 2023, 16:00 (Singapore time);
- Any written submissions are to be filed by 29 March 2023, 10:00 (Singapore time);
- 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; and
- All who may be affected by the orders sought in the applications may click on https://go.gov.sg/supctwebinarhearing-2 to sign up directly with Zoom for the hearing and receive a confirmation email that contains the Zoom details for the hearing.
A copy of the 2nd Affidavit of Akalarp Yimwilai, as well as copies of the correspondence from the Courts, have been compiled and can be downloaded at:
If you have been verified as a Zipmex user, you can proceed to 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 to obtain the password.
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