Tokenize Exchange Liquidator Update on 5 November 2025

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2025/11/05/tokenize-exchange-liquidator-update-on-5-november-2025/

Disclaimer: This post is just for educational sharing purposes. Please do your own due diligence on any products mentioned in this post.

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Today (5 November 2025) 1:42pm received an email update from the Liquidators:

In this email update, the Liquidators notified us, the Creditors, that they have applied to the Court (SUM 3231) for approval of fees and disbursements incurred by the previous Interim Judicial Managers (IJMs), a total sum of SGD444,772.19 and USD8,208.00 to be paid out of the company assets.

And these are just the fees for the previous IJM, quite sure there will be fees for the Liquidators. It looks like a big chunk of the company assets would be spent on paying the legal fees for the interim judicial management and liquidation. I wonder how much or how little left of the company assets to be distributed to creditors even if the liquidation is successful.

Unless the liquidators are able to recover assets that were siphoned away, the winners in this saga would be the lawyers, they get paid for their services, regardless of how much the creditors can get in the end.

The hearing for SUM 3231 has been fixed on 1 December 2025 at 10am. Should we wish to attend the hearing and/or take a position in SUM 3231, we will need to inform them by 18 November 2025 4pm.