Bittrex Global (Bermuda) wound up in the Supreme Court
The Supreme Court of Bermuda has ordered the winding-up of Bittrex Global (Bermuda) Ltd, the failed digital asset platform.
The company presented a petition for its winding-up to the court on March 8.
A week later, the court appointed Grant Thornton as joint provisional liquidators for the company with full powers.
The court heard that Kyle Masters, of law firm Carey Olsen, representing the ad hoc committee of shareholders and beneficial owners, filed a certificate of compliance with the court on March 19.
Steven White, of law firm Walkers, representing Grant Thornton, told Larry Mussenden, the Chief Justice, on Thursday: “The only matter left is the winding up of the company.”
An order for the winding-up was sought on a just and equitable basis under the Companies Act.
Mr White said the company was solvent, but that its purpose as a digital asset exchange was no longer fulfilled.
He added: “It is not a profitable company.”
The winding-up order granted by Mr Justice Mussenden included a provision continuing the appointment of Grant Thornton to act as JPLs.
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