October 2, 2023
Update on Court Hearings
Please be informed that on 29 September 2023, the High Court of the Republic of Singapore granted the following relief to companies in the Zipmex group who are participating in the Court-supervised restructuring proceedings:
Zipmex Asia Pte Ltd and Zipmex Pte Ltd have been granted leave to convene a meeting of their creditors. This means that a meeting will be called and creditors of Zipmex Asia Pte Ltd and Zipmex Pte Ltd will be given an opportunity to vote on the restructuring and repayment plan.
Copies of the finalised restructuring plan will be circulated to affected creditors shortly.
The moratorium granted to the Zipmex group companies in HC/OAs 381, 382, 383, 384, and 385 of 2022 have been extended to 8 January 2023, or further order of court.
Further updates will follow by email to all affected parties.