One of Asia’s largest crypto lenders, Babel Finance, is discussing a potential collaboration with the American firm Houlihan Lokey. The latter specializes in financial restructurings, CoinDesk reports citing sources.<\/p>\n
\n“They [Babel] are the next major company for which, in the coming weeks, there will be some outcome: either a settlement and creditor support, or an insolvency or default announcement,” the source said.<\/p>\n<\/blockquote>\n
Another source said Babel Finance is weighing a restructuring. According to him, an engagement letter with Houlihan Lokey is in the process of being signed.<\/p>\n
Representatives for both sides have not yet commented on the information.<\/p>\n
Earlier Babel Finance closed a Series B funding round of $80 million at a $2 billion valuation<\/a>.<\/p>\n
In June, the company announced the suspension of payments and withdrawals from its own products<\/a> due to liquidity shortages.<\/p>\n
Subsequently, Babel Finance representatives denied reports of insolvency<\/a> and said that preliminary agreements had been reached to repay part of the debts.<\/p>\n