Extremely Favorable Settlement Obtained for Foreign Defendant

The debtor was a cryptocurrency company that provided a platform for users to lend and borrow digital assets, enabling them to earn interest on their deposited coins.

The defendant, a customer of the debtor, utilized this platform for the management of their cryptocurrency assets. A complaint was subsequently filed against the defendant to recover funds that were transferred shortly before the debtor’s declaration of bankruptcy.

Our committed representation effectively led to the negotiation of new settlement terms that significantly safeguarded the defendant’s interests, resulting in a settlement amount that was less than 5% of the original claim.

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