The bankrupt exchange faces over 90 objections, and the $470 million cross-border repayment plan is hindered.

[Chain News] On July 22, it was reported that the liquidation team of a bankrupt trading platform applied for an extension to the Delaware court to address over 90 objections raised by creditors regarding its $470 million cross-border payment freeze plan. This "motion for extension" will allow the asset management team of the platform to seek more time to present their case regarding the suspension of payments to creditors in so-called restricted jurisdictions. The document was submitted on Sunday and is scheduled for a hearing on Tuesday to address the original motion that triggered this legal dispute.

The liquidation team's initial motion proposed to list China and 48 other jurisdictions as "restricted areas", with Chinese creditors accounting for 82% of the claims (approximately $380 million). The liquidators stated in the motion that initiating payments to these regions could trigger local legal risks, including criminal liability for executives. However, the proposal faced strong opposition from creditors, with Chinese creditor representative Weiwei Ji indicating that hundreds of investors are being organized for collective rights protection. Creditor Sunil Kavuri revealed that there are still $1.4 billion in claims pending.