This article has been republished with permission from Binance News.
According to Foresight News, Haru Invest CEO Hugo Lee addressed members of the company in a letter, explaining his and the company’s stance on the asset recovery applications submitted by some users. Lee stated that the bankruptcy reorganization application does not represent the interests of all members, and their responsibility is to recover member assets from asset management companies as much as possible and distribute them fairly among all Haru Invest members.
During a court hearing, Lee clarified the facts regarding the entities with substantial contractual relationships with Haru members and the entities to which assets belong. Specifically, the company involved in the recovery case is not the entity actually operating Haru Invest services, and therefore, due to the lack of any remaining value, including assets, they do not have a practical interest in recovery.
Regarding the asset distribution plan, Lee said that in addition to the assets recovered from B&S Holdings, they plan to prioritize the distribution of assets recovered from other asset management companies to members. However, due to the ongoing investigation into B&S Holdings and Haru Invest, it is difficult to determine the asset distribution timeline. When asked about the possibility of recovering assets entrusted to B&S Holdings, Lee said that the current situation does not allow for a definite determination of recovery possibilities. He believes that the most important thing now is to cooperate with the investigating authorities and recover as many assets as possible from B&S Holdings. Preventing B&S Holdings from engaging in other activities and ensuring their active cooperation with the investigation is a top priority. Furthermore, the asset distribution timeline will be determined based on the investigation results and other factors.