(Telestock) – The bankruptcy judge CHLChristian Sosciawith a decree dated 9/8/2024, declared bankruptcy settlement proposal admissible ex art. 124 LF presented by Demeter Investments on 10/7/2024, assigning to creditors
the thirty-day deadline, starting from 1/9/2024, to submit any declarations of dissent to the bankruptcy registry.
Pursuant to art. 127 LF, the creditors with a privilege, pledge or mortgage they do not have the right to vote if they do not waive the right of pre-emption. The waiver may also be partial, provided that it is not less than a third of the entire credit between capital and accessories. If creditors with a privilege, pledge or mortgage waive the pre-emption right in whole or in part, for the part of the credit not covered by the guarantee they are assimilated to unsecured creditors; the waiver is effective for the sole purposes of the composition. Creditors with a right of pre-emption for which the composition proposal provides for partial satisfaction are considered unsecured for the residual part of the credit.
Pursuant to art. 128 LF, the creditors who do not express their dissent within the deadline set by the delegated judge they are considered to be consenting. Therefore, creditors who wish to reject the proposal must expressly declare their intention.
There composition proposal bankruptcy provides for the full payment of pre-deductible charges for the procedural costs, within 30 days of the final approval, full payment of privileged creditors resulting from the executive passive status
within 60 days of final approval and of unsecured creditors resulting from the executive passive status, by assignment from the approval of a participatory financial instrument (SFP) issued by Mewecom, which will give the right to request – in the period between the date of issue of the SFP and the payment in cash of a sum equal to 66% of the amount of the admitted unsecured credit, or the right to convert the SFP in a corresponding number of Mewecom shares. The maximum contribution offered by the Proposer and foreseen to supplement the liquidity of the procedure, currently available, is overall equal to euro 240.000 (maximum composition burden).