LONDON--(BUSINESS WIRE)--The Company was affiliated with the Freeway platform, which provided opportunities for parties to purchase digital asset equivalents known as Superchargers.
On 16 October 2023, and following the presentation of a winding up petition to the Grand Court of the Cayman Islands (the “Court”), David Griffin and Andrew Morrison of FTI Consulting in the Cayman Islands were appointed as Joint Official Liquidators ("JOLs") of the Company by an order of the Court.
The JOLs’ appointment has immediate effect, and the main function of the JOLs is to collect, realise and distribute the assets of the Company to its creditors or stakeholders and wind up the Company’s affairs.
For the purposes of acting in this role, the JOLs are empowered, as agents of the Company, to collect, take possession of, retain, manage and realise the Company’s property. In addition, the JOLs are empowered to investigate the reasons surrounding the failure of the Company and its affairs.
David Griffin of FTI Consulting noted, “Given the allegations made in the winding up proceedings, the JOLs intend to conduct an immediate investigation into the Company’s affairs, in order to determine an appropriate recovery strategy and action plan that should be taken for the benefit of all stakeholders.”
In the circumstances, the JOLs are not in a position to respond to all queries at this time. The JOLs will publish further announcements to update the Company's stakeholders on the progress of the liquidation as and when appropriate.