Singapore High Court Rejects Winding-up Application Against Crypto Firm Cake Group

IconCrypto News Terminal25 Apr, 2024

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Singapore High Court Rejects Winding-up Application Against Crypto Firm Cake Group

Cake Group, a Singapore-based cryptocurrency services provider, has had its winding-up application dismissed by the Singapore High Court. The court deemed the petition "untenable" and stated that other remedies exist. Cake Group filed the application in December 2023 to facilitate creditor repayment. Previously on April 25, 2024, the Singapore High Court dismissed an application to wind up Cake Group, a local cryptocurrency services firm. The court cited a lack of tenable grounds for the petition and the availability of alternative remedies. ```