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CoinFLEX to distribute assets to creditors according to approved restructuring terms

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On April 1st, according to the latest announcement, CoinFLEX will start distributing relevant assets to creditors according to the approved restructuring terms next week, and all L

CoinFLEX to distribute assets to creditors according to approved restructuring terms

On April 1st, according to the latest announcement, CoinFLEX will start distributing relevant assets to creditors according to the approved restructuring terms next week, and all LUSD transactions will be permanently suspended around 20:00 Beijing time on April 1st, 2023. The assets to be distributed to creditors will include rvUSD, USDT, and USDC. It is expected that the payment of the rvUSD portion will begin early next week, and the equity issue will begin later next week. It is expected that the USDC and USDT will be distributed by the end of next week.

CoinFLEX releases the latest progress in restructuring and will begin distributing relevant assets to creditors next week

CoinFLEX recently announced on April 1st that they will begin distributing relevant assets to creditors according to the approved restructuring terms next week. It is important to note that all LUSD transactions will be permanently suspended around 20:00 Beijing time on April 1st, 2023. The assets that will be distributed to creditors will include rvUSD, USDT, and USDC. In this article, we will discuss what this means for creditors, what the restructuring terms are, and when to expect the distribution of assets.

The restructuring terms

CoinFLEX is currently undergoing restructuring, and to ensure that all creditors are paid fairly and efficiently, it was necessary to approve specific terms. The proposed terms were voted upon, and a majority approved them. Once approved, these terms are binding for all parties involved, and this includes the distribution of assets.
The approved terms outline the distribution of assets to creditors, which are rvUSD, USDT, and USDC. Once the payment portion begins, it is expected that the rvUSD payment will start early next week, with equity issue distribution beginning later next week. The USDC and USDT are expected to be distributed by the end of next week.

What this means for creditors

If you are a creditor for CoinFLEX, it is essential to know that relevant assets will be distributed according to the approved restructuring terms next week. This process will be done as fairly and efficiently as possible, and all creditors will receive their due portion of the assets. CoinFLEX understands the importance of fulfilling their commitments to their creditors, and they are making every effort to ensure a smooth distribution.

The distribution of assets

The distribution of assets to creditors is crucial for CoinFLEX’s restructuring to be successful. All creditors will receive relevant assets, including rvUSD, USDT, and USDC, and it is expected that the payment of rvUSD will begin early next week. Once the payment portion is complete, the equity issue distribution will start later next week, and USDT, and USDC will be distributed by the end of next week.

Conclusion

CoinFLEX is committed to restructuring in the fairest and most efficient way possible, and this includes the distribution of assets to creditors according to approved terms. The payment of rvUSD is expected to begin early next week, with equity issue distribution following later next week. By the end of next week, USDT, and USDC will be distributed to all eligible creditors.

FAQs:

1. What are the approved restructuring terms?
The approved restructuring terms outline the distribution of assets to creditors, which are rvUSD, USDT, and USDC.
2. When will distribution of assets begin?
The payment of rvUSD is expected to begin early next week, with equity issue distribution following later next week. By the end of next week, USDT, and USDC will be distributed to all eligible creditors.
3. Who is eligible to receive assets in the distribution?
All creditors who are approved to receive assets will receive relevant assets, including rvUSD, USDT, and USDC.

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