Tokenize Exchange Liquidator Updates on 6 and 17 April 2026

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2026/04/21/tokenize-exchange-liquidator-updates-on-6-and-17-april-2026/

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

__

I received 2 email updates from KordaMentha (the Liquidators) on 6 April 2026 and 17 April 2026.

The first email update was received at 5:41pm on 6 April 2026:

Essentially, the Liquidators have applied to the Court in SUM 1049 for the approval of fees and disbursements incurred from 30 September 2025 to 13 February 2026 (the Assessment Period), amounting to SGD 1,231,868.97 and USD 22,885.00.

This is the second time they applied for remuneration. The first time (SUM 3231) was applied on 5 November 2025 (refer to Tokenize Exchange Liquidator Update on 5 November 2025) and granted by the Judge on 1 December 2025 (refer to Tokenize Exchange Liquidator Update on 2 December 2025). The remuneration sum of SGD444,772.19 and USD8,208.00 covered the Interim Judicial Management (IJM) period from 15 August 2025 to 30 September 2025, and was paid out of Tokenize Exchange's assets.

30 September 2025 was the hearing date where the Judge had approved the Liquidation Application, hence it marked the start of the Assessment Period (refer to Tokenize Exchange IJMs Update on 30 September 2025). The Assessment Period ended on 13 February 2026 (Friday), so I went back to the Liquidators' email update immediately following that date (refer to Tokenize Exchange Liquidator Update on 26 February 2026).

On 16 Februray 2026 (Monday), the Liquidators had served a demand of debt repayment to Tokenize Exchange Holding (TKXH) and Hong Qi Yu (CEO of Tokenize Exchange). So the Assessment Period covered from the start of liquidation to just before demand of debt repayment.

There is a timeline of events stated in the email update:

• Creditors to file objections (if any) to the Remuneration Application in SUM 1049 by 17 April 2026 4pm
• Liquidators to file required documents to the Court by 21 April 2026 4pm
• The hearing of SUM 1049 had been fixed on 27 April 2026 10amI

The second email update was received at 2:09pm on 17 April 2026:

The second email update simply informed us that the hearing of SUM 1049 had been postponed to 8 May 2026 10am.

I knew from the Telegram community that there were 210 creditors collectively sent an objection email to KordaMentha before the deadline. I won't rule out there were other objecting creditors as well.

I suspect the hearing was postponed because the Liquidators would need more time to address the points raised by the objecting creditors.