<blockquote>TerraformLabs filed with the Singapore International Trade Court under its Chapter 11 Bankruptcy Plan, which was approved by the US Bankruptcy Court on 20.09.2024.</blockquote><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/cdc663e2eba342edb86c3c170082ba1b.png" />&#x1f532; We will provide details about the application made by TerraformLabs in our article. TFL requested that the decisions approved by the US court be accepted by the Singapore International Trade Court.<h3 id="u-let-us-list-these-demands-for-you-u">Let us list these demands for you;</h3><ul><li>TFL will manage and operate all or part of TFL’s property and assets located in Singapore in accordance with the Planning and Consent decision.</li><li>TFL will take all other actions that may be appropriate to implement, execute and complete the Plan and Consent Order.</li><li>No action shall be commenced or maintained against TFL in respect of TFL&#39;s property, rights, obligations and liabilities in respect of any claims settled under the Plan.</li><li>All enforcement of TFL&#39;s property in Singapore (other than by order of the Singapore Courts) was stayed.</li><li>TFL and any person affected by this decision are given the right to appeal.</li></ul><blockquote>&#x1f532; With these decisions, we see that the Singapore branch of TerraformLabs can be reactivated. TFL notified the Singapore International Trade Court of these decisions with the application it made yesterday. It will also receive approval from the Singapore International Trade Court.</blockquote>◽️ Was the authority to manage TFL&#39;s assets in Singapore given to complete the bankruptcy proceedings? Or will it be able to continue its operations through Singapore? We don&#39;t know. It would not be healthy to comment on this at this stage.However; it is clear that we have come to the end of the processes. Within the framework of the approved bankruptcy plan, <a href="https://www.binance.com/square/hashtag/LUNC" rel="noopener noreferrer nofollow">#LUNC </a> and <a href="https://www.binance.com/square/hashtag/USTC" rel="noopener noreferrer nofollow">#USTC </a> owned by TFL will be burned. The possibility of burning the Luna Foundation&#39;s funds has increased, but we cannot make definitive statements on this issue either.▪️You can also access the court documents for free. We have previously shared the link to the court&#39;s website on this subject. We will share it again in the comments section...<a href="https://x.com/compose/articles/edit/1859619990468526080" rel="noopener noreferrer nofollow">SOURCE</a><a href="https://www.binance.com/square/hashtag/TerraClassic" rel="noopener noreferrer nofollow">#TerraClassic </a> <a href="https://www.binance.com/square/hashtag/Terra" rel="noopener noreferrer nofollow">#Terra </a><a href="https://www.binance.com/square/hashtag/LUNA" rel="noopener noreferrer nofollow">#LUNA </a>#Bitcoin #Kripto $LUNC $USTC $LUNA $BTC #SAND

TerraformLabs Appeals to Singapore International Trade Court. Is TFL Moving to Singapore?

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