WazirX: Will seek to negotiate with potential investors during the application for a stay order

ChainCatcher news, the Indian cryptocurrency exchange WazirX, which was previously hacked, stated that the reason for applying for a stay order in the Singapore High Court is to have breathing space to finalize solutions for restructuring and compensation, and during the stay period, it will seek to negotiate with potential investors. WazirX primarily seeks the following relief measures in its stay order application:

• An order prohibiting any resolutions regarding liquidation;
• An order prohibiting any lawsuits against WazirX from being initiated or continued, unless permitted by the court and in accordance with the terms set by the court;
• An order prohibiting any execution, seizure, or other legal proceedings against any property of WazirX, unless permitted by the court and in accordance with the conditions set by the court.

These relief measures are essentially protective, allowing WazirX to focus on finding solutions for its platform users.