The Results of the Voting for Zettai's Suggested Restructuring Plan are Published

News Desk, News Nation 360 : Zettai Pte Ltd. is happy to report that, in the just-finished voting process, creditors overwhelmingly supported its proposed Scheme of Arrangement. Voters could cast their ballots for the proposed restructuring in the High Court of Singapore if they have cryptocurrency balances on the WazirX platform. Voting took place from March 19 to March 28 on the Kroll Issuer Services platform. The restructuring plan got firm support from creditors, with 131,659 of 141,476 eligible voting creditors (comprising USD 184,997,156.31 of USD 195,650,529.03 of approved claims) voting for it, which is 93.1% by number and 94.6% by value, comfortably above the numerical majority and 75% value required under Singaporean law; this consistent level of support of 92% to 95% was observed across creditor segments irrespective of claim size, reflecting general consensus with the proposed restructuring, as recognized by WazirX founder Nischal Shetty; the votes were checked for accuracy and transparency by a third-party assessor, Alvarez & Marsal, who certified the results in a Vote Report that would be made available to creditors together with directions on viewing an anonymized creditor list detailing the voting results; the future steps include Zettai making an application to the Singapore Court seeking sanction of the creditor-approved scheme, and once court approval is obtained and the scheme becomes operative, the first distribution will commence within 10 business days, followed by a phased resumption of trading and withdrawals subject to regulation and mindful of user access.

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