Babel Finance plans to work with restructuring group Houlihan Lokey: CoinDesk

earlier this week. The firm recently lost Yulong Liu, head of global partnerships, who planned to leave by the end of June or early July. Several others from the partnerships and public relations team also departed, according to LinkedIn profiles reviewed by The Block.“Babel is looking at restructuring. They’ve hired Houlihan Lokey or are in the process of hiring them. They’re in the process of signing an engagement letter,” one source told CoinDesk.

Babel will have some kind of outcome over the next couple of weeks,"whether it's sorting out and getting buy-in from creditors or declaring insolvency or default," the source added.© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.Anushree covers how U.S. businesses and corporations are moving into crypto.

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