The High Court of Singapore has set aside its 4th June order in respect of Zettai’s proposed scheme of arrangement and has allowed a revote to be conducted based on an amended scheme. This decision follows further arguments presented by Zettai at the hearings on 15th and 16th July, 2025.
As part of the court’s order, Zettai’s moratorium has been extended. This will allow Zettai to apprise creditors of the amendments made to the scheme and to carry out the revote.
“We are committed to completing this process as soon as possible and will ensure that all necessary steps are taken swiftly to bring the matter to a conclusion. We are grateful for this opportunity and thank users for their patience.” Zettai said in an official statement.
If the amended scheme is approved by the requisite majority of creditors and sanctioned by the court, it is contemplated that the WazirX platform will reopen, and Zanmai will be the entity facilitating distributions to creditors under the proposed scheme promptly.
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