Hodlnaut's creditors reject restructuring plan, seek liquidation of Hodlnaut

Hodlnaut's creditors have rejected Hodlnaut's proposed restructuring plan, which would have allowed Hodlnaut directors who were at the helm during the collapse to continue running the company, Bloomberg reported. The court-appointed interim judicial manager said it was in the best interest of creditors to liquidate and close the company. The Algorand Foundation, one of the creditors, stated in the document that action should be taken as soon as possible to maximize the company's remaining distributable assets.