Eden Quainton here, general outside counsel to Davoa Capital LP and affiliated entities, with a brief update for the Centrifuge community:
1754 and Davoa have been working with the 1754 creditor group for several months now, and a procedure is in place to liquidate the Bling pool assets for the benefit of the creditors. Some assets have been successfully liquidated in the past few months.
Separately, Charles Russell Speechlys and Manatt Phelps, representing both the 1754 creditors and 1754/Davoa, have filed additional pleadings with the French Tribunal de Commerce to assert the creditors’ and Davoa’s rights in connection with the default by Sherwood, SAS, the owner of Bling, on a series of loans from Davoa.
Davoa and its affiliated companies anticipate that the liquidation of 1754’s assets and the Sherwood litigation will both be completed during the fourth quarter of 2024.
Davoa will provide additional updates if there are any material new developments that may affect the foregoing.