Ailing Crypto Firm Zipmex Makes Another Attempt at Restructuring
- Zipmex exchange was given creditor protection over a year ago
- Key creditors oppose debt recast plan, seek independent review
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Ailing crypto exchange Zipmex has proposed to repay creditors about 3.35 cents per dollar of claims initially as part of its latest restructuring offer, according to people familiar with the matter.
The payout could rise to as much as 29.35 cents contingent on recoveries under the revised plan to restructure Zipmex’s $97.1 million of debt, the people said, citing an Oct. 4 court document that’s also been seen by Bloomberg News.