Dear CoinFLEX Community,. It has been a while since our last update on the Reorganization process.
16 Nov 2022, 11:21
Dear CoinFLEX Community,
It has been a while since our last update on the Reorganization process. As you are aware, our priority has been to implement the Scheme of Arrangement, which was overwhelmingly approved by the creditors.
We are pleased to advise that the Seychelles Court ruled on Friday 4 Nov 2022 and Tuesday 15 Nov 2022 that the legal interventions (by the Individual and the wholly owned subsidiary) to the Scheme of Arrangement, which had prolonged the court approval process, were rejected based on the arguments put forward by CoinFLEX.
The court ruled that the Individual had not come to the court with “clean hands”. We believe that the Court understood the ulterior motives for his intervention.
We are encouraged by this outcome.
Please read our full statement for further details.
LINK: