After securing approval from creditors, the next crucial step in the bankruptcy process is for the bankruptcy court to confirm the reorganization plan. A hearing has been scheduled for October 7th to address this important milestone. While progress has been made, there are still potential challenges that may arise.
One possible hurdle involves objections from the U.S. Securities and Exchange Commission (SEC) regarding the use of stablecoins for repayments. This issue has been previously reported and could impact the finalization of the reorganization plan. It is important for all parties involved to address any concerns and work towards a resolution that satisfies both creditors and regulatory authorities.
Despite these challenges, the approval from creditors is a significant step forward in the bankruptcy process. It demonstrates a willingness to cooperate and find a solution that benefits all parties involved. With the court hearing approaching, it is essential for all stakeholders to remain engaged and committed to the reorganization plan’s success.
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