According to Hodlnaut’s judicial managers, several of the biggest creditors of the troubled Singaporean crypto-lender Holdnaut want to liquidate the company instead of a restructuring.

Samtrade Custodian Limited (currently in liquidation) and Algorand Foundation are among the creditors who oppose restructuring. These creditors claim $228 million Singaporean Dollars (US$170 millions).

Hodlanut’s judicial manager published an announcement stating that “there is no white knight investor” to provide fresh capital for the lender.

In January , creditors initially indicated that they preferred liquidation. The Algorand Foundation stated in a court document that liquidation “would maximize the remaining assets of the company available for distribution.”

The Algorand Foundation announced in September that it had 35 million dollars of exposure to Hodlnaut.

According to data, the Algorand (ALGO), token is currently trading for 18 cents. This represents a drop of 3.34% over the last 24 hours.

Aoyon A. Ashraf is the editor.