M11 Credit @M11Credit on Twitter: 

We would like to provide a further update to the ongoing efforts wrt Orthogonal Trading

On December 15, M11 Credit and the Maple Foundation—which serves as enforcer in the case of a default—brought an urgent ex parte application in BVI high court to appoint provisional liquidators over Orthogonal, a BVI company. That application has now been granted.

A provisional liquidator has the rights of a liquidator to the extent necessary to maintain the value of assets

Given Orthogonal’s bad faith, M11 credit and the Maple Foundation took this step to preserve the value of the assets and to seek to return maximum value to lenders

M11 and the Maple Foundation have retained @KrollWire to serve as liquidator, and they will do everything in their power to support Kroll’s work to identify and recoup assets for creditors. 

The next step is for Kroll to begin investigation of the assets and take control of Orthogonal accounts.

We will keep you updated in due time.