Babel Finance

Claims ongoing

The High Court permitted a scheme creditors' meeting in November 2023, but leave to convene a meeting is not scheme sanction or completed distribution. Keep claims ongoing until an authoritative later source establishes final scheme effectiveness and distributions.

Estimated recovery

No final universal recovery rate is established in the reviewed company announcement or Singapore High Court judgments.

Repayment started

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Repayment completed

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Confidence

High

Claim or case process →

Unknown

Unknown is retained deliberately. Product terms, contracting entity and claim basis may affect treatment under the scheme.

Affected product

Babel institutional lending, managed assets and prime-finance claims

Confidence

High

The Singapore court materials establish a group scheme and creditor-classification process, but they do not support one universal ownership or priority rule for every Babel lending, asset-management and prime-finance claim. The 2023 scheme judgment treated one contested trust or secured-claim theory as, at best, an unsecured personal claim, but that reasoning should not be generalized to all customers without product-specific documents.

Source: Re Babel Holding Ltd (Parastate Labs, Inc and others, non-parties) [2023] SGHC 329

The 2018 launch date remains approximate. Singapore court judgments establish the moratorium and scheme-meeting stages, but the reviewed record does not establish final scheme sanction, completed distributions, normal service restoration or one recovery percentage for all claim classes.