April 21, 2024

Media reported on Babel Finance's talks with restructuring specialists

Media reported on Babel Finance's talks with restructuring specialists

One of the largest crypto lenders in Asia, Babel Finance, is discussing the possibility of cooperation with the Americanby Houlihan Lokey. The latter specializes in financial restructuring, CoinDesk writes, citing sources.

“They [Babel] are the next big companywhich in the next couple of weeks there will be some result, either a settlement and obtaining support from creditors, or an announcement of insolvency or default, ”the source said.

Another interlocutor said that Babel Finance is considering restructuring. According to him, a letter of commitment from Houlihan Lokey is in the process of being signed.

Representatives of the parties have not yet commented on the information.

Babel Finance previously closed a $80 million Series B funding round at a $2 billion valuation.

Let us recall that in June the company announced the suspension of payments and withdrawals of funds from its own products due to lack of liquidity. 

Later, representatives of Babel Finance denied reports of insolvency and announced the achievement of "preliminary agreements" on the payment of part of the debts.

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