Key Highlights:
- WazirX’s Scheme hearing rescheduled to July 15 by Singapore High Court.
- Court allows additional submissions, giving WazirX more time to present arguments.
- 93% of creditors have already voted in favor of the restructuring plan.
The Singapore High Court has rescheduled WazirX’s Scheme of Arrangement hearing for July 15, 2025, at 7:30 AM IST (10:00 AM SGT), with a backup date of July 16, according to official filings and the company’s update on social media. This procedural adjustment, approved after WazirX requested more time to present detailed arguments, is seen as a fresh opportunity for the exchange’s creditor recovery efforts.
A Chance to Strengthen the Case
WazirX has been instructed to file a supplemental affidavit and written submissions by July 4, indicating the court’s intention to review additional documentation ahead of the rescheduled hearing. The move—which replaces the earlier July 10–11 dates—is being interpreted as a positive procedural step, granting WazirX and its legal team an extra window to ensure creditor interests are properly considered.
Backed by Strong Creditor Support
Earlier this year, 93% of creditors voted in favor of the proposed restructuring plan, signaling a clear confidence from those awaiting compensation. Many users and creditor representatives view the court’s willingness to grant additional time as a sign of careful deliberation rather than hesitation.
Why This Hearing Matters
The July 15 session could be pivotal. It represents the final opportunity for WazirX to present its full rescue and repayment framework to the court. The successful sanctioning of the Scheme would legally pave the way for repayments — including distributions in liquid assets and Recovery Tokens — and help restore trust following the $230 million cyberattack in July 2024.
WazirX also stated in its update that it is “awaiting details regarding attendance at the hearing” and will share further guidance once the court confirms arrangements. The company’s compliance with court deadlines and procedural requests underscores its commitment to a robust legal process.
