Zettai is applying for the moratorium so that it will have the breathing space to develop a solution for crypto balances. The moratorium will give Zettai time to negotiate with potential investors, which will improve user recoveries.
Zettai is broadly seeking the following reliefs in its moratorium application: (1) an order that no resolution shall be passed for a winding up of Zettai; (2) an order that no proceeding shall be commenced or continued against Zettai, except with the leave of the Court and subject to such terms as the Court imposes; (3) an order that no execution, distress or other legal process may be commenced against any property of Zettai, except with the leave of the Court and subject to such terms as the Court imposes. These reliefs are protective in nature, and will allow Zettai to focus its efforts on finding a solution for the Platform’s users.