The extension was granted by Singapore's High Court alongside a directive that states applications for superpriority will be fixed for hearing on Dec. 21. Superpriority gives some claims a greater weight for repayment.
Zipmex is one of several crypto companies that became embroiled in this year's bear market after a series of $53 million loans to Babel Finance and Celsius Network failed to be repaid. It froze withdrawals in July and appointed a restructuring firm in August to assist with a recovery plan.
Bloomberg reported Friday that a deal involving venture capital fund V Ventures looks set to be completed in due course. On Nov. 18, Zipmex was still in "advanced talks" in terms of a rescue deal, according to a person familiar with the matter. The deal with V Ventures, a subsidiary of Thoresen Thai Agencies, one of Thailand's largest and longest-serving investment firms, is set to be worth $100 million in cash and crypto for 90% of the business, Bloomberg said.
A company spokesperson told CoinDesk that details of the deal are to be kept confidential.
CORRECTION (Dec. 2, 11:08 UTC): Corrects that Dec. 21 was set for hearing superpriority claims. An earlier version of this story said it was a deadline for a takeover agreement. Adds details of Bloomberg report on V Ventures deal.
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