According to Foresight News, the Singapore High Court has dismissed a liquidation application submitted by U-Zyn Chua, the former Chief Technology Officer of Cake Group. The court ruled that there was no reason to shut down the cryptocurrency company. In addition, Judicial Commissioner Alex Wong stated during the court hearing that seeking liquidation as a quick solution was inappropriate when there were other remedial measures available. This decision underscores the court's commitment to ensuring that businesses have the opportunity to rectify issues before resorting to drastic measures such as liquidation.