The FTX trading company, which suffered from the collapse of the crypto exchange, Auros Global, announced the satisfaction of a court request for provisional liquidation as part of measures to restructure outstanding debt to creditors. At the moment, Auros has missed payments on loans in the amount of $17.7 million from the credit pools of the Maple Finance protocol.
In their statement, representatives of Auros Global refer to the events surrounding the collapse of FTX as the main cause of the company’s problems. A court application for provisional liquidation was filed on November 16. According to the management, the company found itself in a situation where the current liquidity was insufficient to meet the creditors’ claims. However, the Auros board of directors remains confident in the long-term prospects of the business.
The ruling of the Court of the British Virgin Islands allows for a restructuring mechanism in which the current management is allowed to continue conducting trading operations under the supervision of a third-party consulting company while the restructuring plan is being developed. The supervisor of the current trades will be the consulting company Interpath Advisory. It is expected that after the successful implementation of the restructuring, Auros activities will resume as usual.
According to open sources, it is known that the volume of frozen Auros funds on the FTX exchange exceeds $20 million.