Cryptocurrency

Alameda objects to debtors’ Plan in bankruptcy case

Alameda Research, along with affiliates Maclaurin Investments and Alameda Ventures, have challenged the motion to initiate the debtor’s order.

The objections included approval of the disclosure statement, a plan confirmation hearing, and said the debtor’s plans “clearly cannot be confirmed” because they did not meet the disclosure requirements under Section 1125 of the Bankruptcy Code.

Alameda’s objection says of the plan:

“Unfairly discriminating against the owner of the Alameda Loan Facility Claim and violating the absolute priority rule.”

The complaint also contested the debtor’s complaint on the grounds that it “failed to provide sufficient information” and that the plan had no “legal basis” with respect to “collection of the debt”. rice field.

Alameda has asked the court to deny the conditional disclosure statement motion and direct the debtor to submit a legally compliant new plan.

Alameda’s post challenging debtor’s plans in bankruptcy case first appeared on CryptoSlate.

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