Haru Invest Faces Crucial Bankruptcy Court Hearing on August 17

Key Points:

• Haru Invest’s CEO, Hugo Lee, under scrutiny for absenteeism in bankruptcy hearing. Rescheduling to Aug 17 due to his non-attendance, appointing Apro law firm for legal defense.
• Aug 17 court hearing to explore Haru Invest’s operations scale, creditors, and damages. Similar to recent Delio case, observers seek transparency in responses.
• Haru Invest’s focus on safeguarding user funds amid B&S Holdings turmoil. Suspended deposits and withdrawals cause user concern, raising questions on financial stability.

Haru Invest is set to make its appearance in the upcoming bankruptcy court hearing scheduled for August 17.

The CEO of Haru Invest, Hugo Lee, who had previously been absent from the July 5 hearing, has come under scrutiny for his non-attendance. This led to a trial date rescheduling from July 18 to August 17, to accommodate Lee’s participation. To bolster his legal defense, Lee appointed the law firm Apro as his legal representative last month amidst growing criticism over his series of absentee interviews.

The forthcoming court hearing is expected to delve into critical aspects of the case. The court intends to inquire about the scale of Haru Invest’s operations, the list of creditors, and the extent of damages incurred. This line of questioning mirrors inquiries posed during the recent Delio bankruptcy hearing. However, Delio’s representatives had sidestepped direct answers to these inquiries, leaving many observers dissatisfied with the clarity of their responses.

Haru Invest’s official stance has revolved around safeguarding user funds from virtual asset trading company B&S Holdings. The company suspended both deposits and withdrawals on June 14, a move that elicited concern and uncertainty among its user base. The inability of users to retrieve their entrusted funds has led to the contentious situation now faced by Haru Invest.

In a recent development, Hugo Lee made a public announcement earlier today. He disclosed that he would be subjected to questioning later this month as part of the ongoing proceedings related to the commencement of rehabilitation procedures. This decision has sparked interest and speculation, as stakeholders eagerly await insights from Lee’s testimony that could shed light on the intricate circumstances surrounding Haru Invest’s financial standing.

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