WazirX Creditors to Revote on Amended Rescue Plan Starting July 30, Final Step Before Relaunch

WazirX creditors will participate in a revote on the amended Scheme of Arrangement from July 30 to August 6, following a Singapore High Court ruling that overturned a previous decision. The revote, approved by the court, marks the final step before potential creditor repayments and the exchange's relaunch.

Results will be verified by an Independent Assessor, with token distribution commencing within 10 business days if the revised plan garners sufficient creditor support. The court's reversal highlights the evolving regulatory landscape for crypto exchanges in restructuring scenarios.

This development underscores the growing institutionalization of crypto bankruptcy proceedings, mirroring traditional finance's emphasis on creditor rights and structured resolutions. Market participants await the outcome as a potential precedent for exchange recoveries in Asia's burgeoning digital asset ecosystem.