A moratorium is a form of legal protection under Singapore law that protects the applicant from creditor enforcement, such as winding-up proceedings, enforcement of security and other legal proceedings which are stayed until the expiry of the moratorium.
Zettai is applying for a moratorium to ensure that Zettai has sufficient time and breathing space to work on a restructuring for the benefit of its creditors, which is the fastest and most effective process for users to receive improved token recoveries.
A moratorium is key to ensuring that a restructuring is possible, and it is in the users’ interests to support Zettai’s moratorium application.