CBC: update May 2024

As iuvo recently informed, one of the next steps in the legal proceedings to collect the debts owed by CBC (the restructuring proceedings) initiated due to their failure to fulfill their contractual obligations to IUVO and other creditors is for the Administrator to try to sell the first batch of receivables of CBC, so that these funds could be added to the assets already collected.

Administrator’s attorney informed us that the first attempt to sell CBC’s receivables was unsuccessful. The Administrator intends to announce about selling them again shortly because there is a potential buyer now.

There is still no change regarding the approval of the restructuring plan.

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