Crypto exchange WazirX has bagged over 93% approval votes from creditors for its proposed Scheme of Arrangement, bringing victims of its $230 million July hack closer to a partial asset recovery.
The voting process, conducted on the Kroll Issuer Services platform from March 19 to March 28, involved over 141,000 creditors representing $195.65 million in approved claims.
Of those, 131,659 creditors, holding $184.99 million, voted in favor, equating to 93.1% by count and 94.6% by value. This exceeded the requirements of Singapore’s Companies Act, where parent Zettai is based, which mandated a majority by count and 75% by value for approval.
If the scheme was not approved, the process would have shifted towards liquidation under Singapore’s Companies Act, likely resulting in lower asset recovery for creditors with an estimated date of 2030, WazirX said in February.
With the voting results now in hand, Zettai plans to seek a sanction from…
