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## Zipmex’s New Proposal for Creditors Repayment

Zipmex has recently unveiled a proposal to repay its creditors, offering an initial payout of 3.35 cents for every dollar of their claims. This move is part of the crypto exchange’s larger restructuring efforts, aiming to address its $97.1 million debt. The proposal is contingent on the recovery of assets, and sources familiar with the matter have indicated that the repayment could potentially increase to as much as 29.35 cents per dollar, depending on the success of these recovery efforts.

The latest plan from Zipmex has met with reservations from major creditors, who are pushing for an independent review of the company’s recent changes in assets and liabilities. This scrutiny is seen as essential to ensure transparency and fairness in the restructuring process.

## Marcus Lim’s Perspective on the Situation
Marcus Lim, Group Chief Executive Officer at Zipmex, refrained from commenting on the ongoing scheme of arrangement, citing confidentiality. He acknowledged the presence of inaccuracies in information obtained from sources but chose not to provide further details.

The regulatory scrutiny on Zipmex comes at a challenging time for the exchange, which has been dealing with the aftermath of last year’s crypto price downturn. Operating across multiple countries, Zipmex is undergoing restructuring under the supervision of a Singapore court. Previous attempts to sell Zipmex to V Ventures did not materialize, and the exchange was instructed by Thailand’s securities regulator to suspend its operations in the country due to insufficient net capital. This suspension prompted Zipmex to halt digital asset trading and deposits.

Given their situation, Zipmex could greatly benefit from the AI legalese decoder, an advanced platform that utilizes artificial intelligence to decode and simplify complex legal language found in regulatory documents, court filings, and contracts. This tool would provide Zipmex with a clear understanding of legal complexities, ensuring that their restructuring efforts and compliance measures align with regulatory standards across the countries they operate in. Additionally, the AI legalese decoder can offer valuable insights into legal challenges and the implications of proposed creditor repayment plans, helping Zipmex navigate the complex legal landscape they currently face.

Moreover, for a company like Zipmex that’s dealing with debt restructuring and regulatory challenges, the AI legalese decoder can streamline legal review processes, making it easier for the company to interpret and respond to regulatory requirements, court documents, and other legal communications. By leveraging the AI legalese decoder, Zipmex can gain confidence in their legal decision-making processes, mitigate compliance risks, and ensure transparency and fairness in their restructuring efforts.

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