Haru Invest CEO: Inquiry will be held this month on the case of initiating recovery procedures

Odaily Planet Daily News Haru Invest CEO Hugo Lee sent a letter to its members saying that some members have applied to the court for an order to start the recovery process, and the court has made a preservation and comprehensive decision on Haru Invest Korea Co., Ltd. injunction order. A conservatory disposition orders the debtor not to repay the debtor's assets until a decision has been made to initiate the recovery process, while a blanket injunction prevents creditors, etc., from enforcing the debtor's assets until the decision to initiate the recovery process is made. Haru Invest will conduct an inquiry on the above recovery procedure case this month and submit an opinion on the recovery procedure to the court. Haru Invest is currently recovering assets from B&S Holdings through civil and criminal legal means, but it is expected that it will take some time to recover the assets. Therefore, it is planned to summarize the plan for the first collection and distribution of other assets before submitting them to the court. Prior to the news on July 14, Haru Invest stated that it had not yet fully determined the scale of recoverable assets of B&S, and considered using the company's internal assets for compensation.