Approval of the Scheme by creditors requires a majority vote in favor, representing at least 75% of creditors by value of the creditors present and voting. Once approved, the Scheme has to be sanctioned by the Court before becoming legally binding on both the Company and its creditors. Only once the Scheme has been sanctioned by the Court, can the restructuring plan be implemented.
Articles in this section
- Why are 33% of locked WRX tokens included in the calculation displayed in the Rebalancing Calculator?
- Is the USD 30m Cost Reserves an expansion of the initial USD 12m fund?
- Why is the USD30m Cost Reserves critical for recovery?
- How are profits managed until the USD30m Cost Reserves are recovered?
- What are Recovery Tokens (RTs), and how will they be used?
- How do Creditors benefit from RTs?
- Does the increase in Liquid Asset Value affect the commitment to recover stolen assets?
- How does this demonstrate a commitment to adding value for creditors?
- What is the purpose of the Rebalancing Calculator?
- Will the market prices be updated regularly on the Rebalancing Calculator?