Terraform Labs Pte Ltd and Terraform Labs Limited, currently navigating Chapter 11 bankruptcy proceedings, have a crucial Plan Confirmation Hearing scheduled for September 19, 2024, at 10:00 a.m. ET in the United States Bankruptcy Court for the District of Delaware.
Case Overview
This hearing will decide if the court will greenlight the Amended Chapter 11 Plan of Liquidation put forth by the companies. Judge Brendan L. Shannon will preside over the hearing at the Bankruptcy Court in Wilmington, Delaware.
Voting Procedures and Deadlines
Voting on the Terraform Labs’ liquidation plan is critical as deadlines vary by claim class. The procedures are stringent, and adhering to all requirements is necessary for consideration.
Legal Protections and Implications
Key legal protections in Terraform’s plan could shield parties from future lawsuits, barring fraud or misconduct.
The hearing will be a crucial step in Terraform Labs' bankruptcy process. Compliance with procedures and readiness are vital for all involved parties.
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