PayPal financial creditor protection extension request put on hold

According to Bloomberg, Babel Finance (Babel Finance) co-founder Flex Yang said that after the objection of creditor Deribit, the Singapore court refused to make a clearer decision on Babel Finance's request to extend creditor protection. Flex Yang said the court granted an interim moratorium until April 17, the date of the next hearing on Babel Finance's creditor protection request. Babel Finance owes some $750 million to $800 million to creditors, and its ongoing moratorium on creditor actions will end on April 5, Flex Yang said. Flex Yang withdrew from day-to-day operations of the company at the end of 2021 and has returned to oversee the company's restructuring.