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As a follow-up to our previous post on CBC’s debt collection proceedings, we are pleased to inform you that the court-appointed Administrator has successfully sold the first batch of CBC’s outstanding loan receivables. This amount will be added to the amount already collected to be used to satisfy the claims of iuvo and other CBC creditors.
The next step is to conclude the proceedings regarding the ineffective use of assets by CBC. Upon successful completion of the cases in question, this amount will also be added to the total amount that will be used to satisfy our claims. Another thing that is about to happen next is the approval of the Plan for restructuring of CBC. After all of that, the settlement procedure among the creditors can be voted on.
