Okay this section is the starting point no.3
There are a lot of people who do this
like 36% of people about 10% of people
So I am going to show you guys the rate of each
Beef
Ready, Wendy?
Okay.
Good morning, everyone.
This is Judge Kaplan.
And we will be starting our hearings on BlockFi, Inc. and Al.
And before I hear from Debtors Council, let me just make note.
I anticipate this morning to be virtually all informational.
No arguments are scheduled, but it's a good thing that we have a good
opportunity to allow all parties to update the court and all parties
that interest on where matters stand.
And in that regard, I did want to express my appreciation to the debtor
and both the official and ad hoc committees on putting together a
joint court hearing.
And I'm going to be giving a brief introduction to the process.
And both the official and ad hoc committees on putting together a joint
correspondence to stakeholders trying their best in these trying times
to update the parties on where matters stand to try to lessen the
confusion that's out there.
And I think it was a great first step in that direction.
Today, those in court will unfortunately not have the benefit of our
technology in saying who's on Zoom.
Our screen is not working in that regard.
However, we do have Zoom participants, I don't know, approximately 120 or
so at the moment.
For those who are on Zoom who want to be heard, please just as always use
the raise hand function.
I can certainly see you all.
And those in court will be able to hear you.
So at this juncture, let me turn to Debtors Council.
Ms. Okike.
Good morning, Your Honor.
Christina Okike of Kirkland & Ellis on behalf of the debtors.
Your Honor, we wanted to provide just a brief update on the debtors' cash
and the current situation.
So, Your Honor, there have been a lot of reports of BlockFi's potential
exposure to Silicon Valley Bank.
We have been all over the situation, and the short answer is BlockFi is fine.
We have access to cash to operate in the normal course, including paying our
employees and vendors.
And we expect to have access to 37 million of the 278 million at SVB later
today.
Your Honor, the vast majority of the debtors' funds at SVB, approximately 236
million, are invested in highly rated money market funds.
Fifty percent is allocated to the BlackRock Liquidity Fed Fund admin, and 50
percent is allocated to Morgan Stanley ILF government incel, both of which are
invested in government securities, with SVB acting as agent on behalf of
BlockFi.
Once we get access to those money market funds, we will work with the U.S.
Trustee and the Committee to make sure that we are in compliance with Section
345B.
I know the U.S. Trustee filed a motion on Friday, and we have every intention
of complying with our obligations with respect to 345B.
We want to thank the U.S. Trustee and the Committee, who we have been in
constant contact with as the SVB situation developed and over the weekend,
and who we've continued to have productive conversations with leading up to this
morning's hearing.
So, Your Honor, the short answer again is we are fine.
There's nothing to be worried about here.
And again, we thank the Committee and the U.S. Trustee for their cooperation in
this matter.
Once we have access to those funds and we determine next steps in terms of the
bank account and making sure that we're protected and it's in a safe place, we
will update the Court, and I anticipate we'll have news on that, you know,
within a week or so.
Thank you.
I appreciate that.
I'm sure it's a significant sigh of relief to those who are listening, who
have an interest in the financial wherewithal of the debtor and are relieved
to know that it's not as desperate as it seemed probably to a lot of people in
the room Thursday afternoon and Friday and during the weekend.
And I do appreciate all Council working together.
In that regard, I know there's other matters on for today, but I would like to
give the U.S. Trustee an opportunity if they wish to weigh in on where we stand
again to either supplement or to modify what's been placed on the record.
Good morning, Your Honor.
Thank you.
Jeff Sponder together with Andy Vara, the United States Trustee, and Lauren
Bilsky, all on behalf of Andy Vara, the United States Trustee.
Your Honor, at all levels of the United States Trustee program, we have been
engaged to ensure the state funds are available and protected.
We do appreciate the cooperation of all Council in these cases.
We have worked diligently with debtor and committee Council throughout this
case and especially this weekend, and we'll continue to work with the
debtors as they become 345 compliant so that all the state funds will be
protected.
Thank you.
Would it be best to keep a date going forward for the compliance issues so
that we can have a follow-up conference or if need be, hearing?
Your Honor, Jeff Sponder again from the U.S. Trustee.
I think that would be appropriate.
I know Council for the Debtors is advised within a week, so I don't know if
we have a hearing scheduled.
I think we have a hearing on the 23rd.
Let's see.
We do have, we have you all on for the 23rd, so why don't we just carry the
U.S. Trustee's motion to that date?
We could always adjust the schedule from there if we need more time.
And obviously, again, my thanks to the U.S. Trustee who was able to put this
matter on, get papers filed on short notice on Friday, and we were able to
schedule the hearing.
If there's a need to do that again, the Court will make itself available,
but otherwise we'll carry the U.S. Trustee's motion to 323 with two other
matters that are on.
Then let me, is there anyone else who wants to be heard on the cash management
issues before we move on to other issues?
I see no one, no hands raised, so let me again go to Debtors Council for the
next matter.
Thank you, Your Honor.
Christine Okike again on behalf of the debtors.
Your Honor, the next item on the agenda is a status update on the wallet
withdrawal motion, which was filed at Docket Number 121.
So last Wednesday, as Your Honor noted, the debtors filed a joint letter among
the debtors, the committee, and the ad hoc committee of wallet holders to
provide an update to BlockFi's clients with respect to BlockFi's request to
return the digital assets and the wallet accounts as of the platform pause to
their clients as soon as possible.
The debtors understand that our clients want the wallet withdrawal motion
resolved promptly, and so do we.
And we are actively working with the committee, the ad hoc committee, and
deferred 1031 to achieve that goal.
Your Honor, when we filed the wallet withdrawal motion, two things happened.
First, the committee advised the debtors that it was supportive of returning
some wallet holdings to clients, but only if BlockFi clients with those wallet
holdings were not subject to potential avoidance claims or clawbacks.
Determining which clients might be subject to clawbacks is a very complex issue,
and the debtors understand that the committee's diligence with respect to
that is ongoing.
Second, the members of the ad hoc committee and deferred 1031, who are
BlockFi clients who attempted to transfer digital assets from their
interest-bearing accounts or BIAs to wallet after the platform pause, which
was 8.15 p.m. Eastern on November 10, 2022, contended that their holdings
should be treated the same as those clients who had wallet holdings in wallet
at the time of the platform pause.
Both the debtors and the committee dispute that position, but the ad hoc
committee and deferred 1031 have the right to have their arguments heard
before the court.
The debtors have provided the ad hoc committee and deferred 1031 with a
substantial amount of information.
We responded to about 60 questions that they had with respect to the platform
pause and actions that the debtors took to help resolve this issue.
But the debtors understand that the ad hoc committee and deferred 1031's
diligence also continues.
There are no open diligence requests from our perspective, and to the extent
that they do have additional diligence requests, we would ask that they
provide them promptly.
Your Honor, we've reserved time on the court's calendar on April 19th to
resolve the issue of whether the attempted transfers of the ad hoc committee
and deferred 1031 after the platform pause should be treated as wallet holdings
as of the platform pause.
We really view that as an initial issue that should be decided before you even
get to the question of dealing with potential preferences for people who are
in wallet.
We expect to go forward on April 19th, absent a resolution or agreement between
the parties before then, and we're happy to continue to work with the ad hoc
group as well as deferred 1031 to reach a consensual resolution.
So I believe that's document number 559, the pause motion.
So that's going to be, in essence, that's going ahead on the 19th to be argued
unless there's a resolution.
Correct, Your Honor.
Okay, great.
So we will submit a supplemental briefing schedule to Your Honor.
We continue to have discussions with the committee, the ad hoc group, as well as
deferred 1031 on that schedule.
All right, great.
Thank you.
Does the committee wish to be heard?
Good morning, Your Honor.
Kenneth Ouellette of Brown Brodnik for the committee.
Just to reiterate, the committee does view it as important to return these funds
to wallet holders as quickly as possible as soon as it can be determined by Your
Honor or hopefully by agreement who the wallet holders are.
Ms. Okike mentioned the preference diligence.
We fully expect that that will be done by April 19th, and the committee has
completed its diligence into all of the factual issues surrounding the issues to
be decided on the 19th.
And unless Your Honor has any other questions, thank you for your time.
No, thank you.
Thank you, Mr. Ouellette.
Ms. Kofsky, I see your hand raised.
Thank you, Your Honor.
Deb Kofsky, General Pepper for the ad hoc committee.
I wanted to just clarify a couple of things for the record.
One is that people referred to my client's transfers as attempted transfers.
Obviously, we dispute that characterization.
With respect to diligence, that remains ongoing.
The veterans have answered some but not all of the questions that were posed to them.
We appreciate that information, but our diligence is ongoing, and we are attempting
to work out a schedule that enables the ad hoc committee and the firm to review
and take appropriate discovery in order to be able to put all of the facts before
Your Honor.
And while we have reserved time on April 19th, the due diligence seeking extension
of that date should be necessary in order for us to complete our discovery.
All right.
I hear you.
Obviously, with respect to outstanding discovery, I'll just ask that the Council do
their best to confer as quickly as possible so we can move the process and not have
a holdup over discovery issues.
All right.
I don't see it.
Mr. Stark?
Thank you, Your Honor.
With Your Honor's indulgence, I know that normally we handle each matter with one lawyer,
but I want to be constructive.
That's fine.
Thank you.
It's very important to the Committee that issues move along quickly and that this case
moves along quickly, and this is an important issue.
And I make and I have absolute respect for the position Ms. Cowsky is raising.
I just want to rise, put a stake in the ground for maybe reverse, come back to it at a different
date.
We want to move this issue along.
So I know we got our diligence done quickly, she has a job to do, and I fully respect the
job.
I just, if there are issues in terms of discovery, if there are issues in terms of diligence,
let's learn about them now, let's obviate them now so we can resolve this issue once and
for all in due course, in the due course being on the nearer side, not the farther side.
So that's all I wanted to say.
No, I appreciate that.
I was going to follow up.
I thank you.
Follow up, I'd rather be that we have quick calls to resolve discovery issues in the short
term.
The Court will always make itself available for a call, and we don't need motion practice,
we don't need letter writing as much as just reach out and we can talk about these issues.
All right.
Thank you.
Thank you Ms. Cowsky.
All right, I think Mr. Kanowitz, we come to the emergent matter?
Yes, Your Honor, may it please the Court, Richard Kanowitz of Haynes and Boone, co-counsel for
the debtors and debtors in possession.
Your Honor, I just wanted to give you a quick status of the emergent matters.
There were a lot of things going on behind the scenes that I want you to be apprised of
so that if and when we get in front of Your Honor, you're not surprised.
So, as you see, as you entered the order on docket 61, we extended the time for Marik's
to move our answer to 5-1.
Likewise, in docket number 60, we extended the pretrial conference date to April 19th.
Expect that potentially to move again.
That was one of the matters I was going to raise.
It doesn't make much sense if we're extending the answer to 5-1.
We were going to take it in chunks because, you know, tomorrow is a trial in the emergent
bankruptcy case.
Let me get to that point.
So, you know, coming out of the hearing on January 9th, you directed us to file an amended
complaint, and we worked on that.
And the DOJ took interest in that and asked us for a copy, and we sent it to them.
And that took weeks of discussions with them.
And coming out of their review, they said to us in no uncertain terms, your amended
complaint interferes with the criminal prosecution of Sam Beckman Fried and other
investigations and potential prosecutions, and that you also, by virtue of some of the
issues raised in the adversary proceeding complaint, interfere with what they believe is the
current civil and criminal forfeiture proceedings.
We obviously looked at the law.
We came to a conclusion.
And the outcome of our discussions, because it's not an agreement with the DOJ, but you
have discussions with the DOJ, and they tell you what they think, and you decide what to
do next.
Well, what we decided to do was file the amended complaint, but then ask your honor to stay
it, right, and go through those issues as to why it matters for us to file an amended
complaint and for us to stay it pending prosecution of Sam Beckman Fried and the civil and criminal
forfeiture proceedings, which unfortunately will be many years down the road and occur
in the Southern District in New York if, in fact, we agree and, you know, we looked at
the law, that the Southern District in New York really has jurisdiction over the disputes,
all of the disputes.
We never got to that point of filing and seeking a stay because Emergent filed the bankruptcy.
So we have taken the next step to move to dismiss the Emergent bankruptcy case for a
host of reasons that are public records.
I don't need to argue them here or point them out.
Obviously, we're raising two key issues, the good faith of that filing by the JPLs in
Antigua as well as the fact that the money has been and the assets have been seized and
if the government is right, and I believe they are, then these disputes are not going to
happen in any bankruptcy court, but they're going to happen in the Southern District in
New York at some time in the future.
So we're going tomorrow and we're going to have a whole trial, witnesses, et cetera.
We'll see what Judge Dorsey does.
In the meantime, we are talking to the DOJ and Emergent, and I believe FTX is also involved
because they've tried to intervene in our motion to dismiss.
To see maybe fiduciaries could come to the table and actually figure out the right path
to not waste legal fees, estate resources, et cetera.
I'm hopeful we get there.
If not, well, we'll have our trial tomorrow and we'll proceed accordingly.
The one thing that I want to put on the record that's crystal clear, Your Honor was very,
very clear that you believe you have jurisdiction over the debtor's interest in the
guarantee and pledge agreement and the shares to the extent now you have it or don't have it
by virtue of the seizure.
We're going to defend that jurisdiction and we're going to defend property of the estate
no matter where it's litigated.
And I just wanted to leave that on the record so that everyone is clear that we are vigilant
in protecting what we believe are the victims of the FTX Sam Bankman Fried slash emergent fraud.
Thank you, Mr. Kennewith.
I appreciate the update.
I don't see anybody on Zoom looking to comment further.
I don't see any raised hands.
Let me just ask with respect to that pretrial date, do you want to leave it on for now or should I be moving it into May?
We didn't have a May court hearing to suggest that.
But once we do establish it, yes, we should make an application, however you want it on the record,
we did let or in pleading like we did last time to move it, but yes, it has to be moved pending what happens in emergent own bankruptcy case.
All right. We're going to get to scheduling.
I have some suggested dates and we'll talk about it before the end of the hearing this morning.
Thank you.
I'll see the podium.
Ms. Chavez.
Good morning.
Good morning, Your Honor.
Jordan Chavez of Haynes and Boone on behalf of the debtors.
Just two procedural motions that are both uncontested that we wanted to take up with your honor today.
The first one is the motion we filed to extend the removal deadline at docket number 500, which was followed by this first bridge order at docket number 514.
In that motion, we're asking for an extension of the removal deadline to May 27th, 2023, and we received no objections or informal comments to this motion or the proposed order.
So we would ask that your honor grant the motion and we will get with local council to submit the proposed order to chambers.
That's fine.
I've gone through it.
There are no issues with it.
Market granted and will market order to be submitted.
Thank you, Your Honor.
The second motion is the motion for the claims procedures that we filed at docket number 535, which is designed to streamline the claims reconciliation and objection process.
The proposed order that we filed with the motion already incorporated the constructive comments that we received from committee council.
And then we received some informal comments after filing the motion from Arch, which is the one of the debtors insurers.
And we filed a notice of revised proposed order for that at docket number 586.
There were no additional comments and no other objections received.
And the only change that we reflected in the revised proposed order was we had a basis for an objection if the insurers were obligated to make the payment rather than the debtors.
And the insurer understandably just wanted a clarification that that would only be after its termination by this court or another court of competent jurisdiction.
So with that, I would ask your honor to grant the motion.
And again, we will get with local council to submit the proposed order to chambers.
I only had one question.
I think it all makes sense and how it's laid out.
Service of the omnibus objections.
And we're relaxing our local and the federal rule as far as grouping in hundreds and the like.
But how is service being undertaken on an individual claimant?
I thought I saw read through it and it referenced both mail and email.
Can you be more specific as to as to how what's the intention as far as service on the claimants?
Yes, your honor, to the extent we have both mail and email information, we are having pro served them via both methods of process.
And so that would be the measure we would take here as well.
Given the interim redaction order, we are serving them directly and trying to keep all of their personal information confidential while doing so.
And I understood in reading through your also trying to make a point to the to the claimants that they should in their responses respect the confidentiality as well and redaction.
It may be that individuals need some assistance.
And I think you included contact information as well, both at Kroll and at the firms.
Correct?
Yes, your honor, we included my direct contact information as well as one of my colleagues, Mr. Zavala, so they can directly reach out to us if they have questions or need assistance.
And of course, to hopefully informally resolve the objections so we don't have to take up court time.
I'm just judging from some of the email that my chambers received is from claimants.
Unfortunately, they claimants tend to be more liberal or loose unintentionally with their own personal identifiable information.
We end up sealing and redacting their information.
We're not putting on the docket to protect them.
So it's a difficult issue.
But I think the notices are there to to to admonish them to be careful on their own end.
I don't have any other issues.
Anyone in court have any issues on the objection claims procedure motion?
I know you've gone through with all the parties.
I've seen no questions.
So it'll be ordered to be submitted.
Yes, your honor.
All right.
Thank you.
All right.
That goes through, I think, what we had on our agenda.
Well, Mr. Stark.
Your Honor, allow me to spend a minute on something that you're on just touched upon, but you're on touched upon at the beginning of the hearing as well.
And I wanted to do something.
Your Honor will allow me.
Sure.
Your Honor mentioned the letter that the debtors circulated to the customers and your honor made reference again to the customer predator outreaches to the court chambers.
I'd like to address that just for a moment.
We as a committee acknowledge not only do we have a statutory and fiduciary obligation to talk to customers and credit creditors in the normal case.
This is not the normal case.
Customers and creditors here lost their lives, savings, lost their wages and their worry.
And we get that.
We've been in existence, at least with professionals, for under three months.
It seems like for the people who lost their money, that seems like an eternity and we're very sensitive to that.
But for bankruptcy, there's a lot that has to go on in the initial stages of bankruptcy and especially in a sensitive case, disables the kind of direct communication that I know folks are really thirsting for and need.
We set up a website.
We have a Twitter feed.
But we acknowledge.
And we have to acknowledge the number of inbound calls and emails that I know your honors chambers have been receiving.
We're going to we want to put a stop to that.
We want to help the community more.
The first thing I can do right now is on the record to those who are listening in, my name is Robert Stark.
I work at a firm, Brown-Rudnick.
My email is rstark at brownrudnick.com.
My telephone number is 212-209-4862.
Any customer or creditor who is listening in, who wants to find out information about this case, please call or email me and we will respond within 48 hours.
It is not the court's job to respond.
It is mine.
And we will do that.
The second thing that I can do for your honor and for all those who are listening, the committee understands and spent an awful lot of time in the last two weeks specifically.
To come forward with a program for reaching out to the customers and consumers.
There are a whole host of different ways that we could try to do it from town hall meetings to Reddit Q&As to inbounds and outflows.
We have to be thoughtful.
We have to be disciplined.
There's an awful lot going on.
Again, it's a very sensitive case.
We have our own confidentiality issues and fiduciary issues.
But we know that there's more that we can be doing.
And so we are right about to launch, but for the issues of last week, we probably would have happened last week, we're about to launch a program where we're going to be much more communicative with the community outside.
And they will have much easier access to us.
They will know our names.
They will know that we're standing by.
They will have information, much more information.
But it won't be sensitive information that we believe might inhibit our ability to resolve this case quickly.
But they will have greater understanding and less confusion.
So that's about to get launched right now.
I just want your honor and everyone listening to know that.
That's great.
I appreciate that, Mr.
Stark.
I know my law clerks appreciate it.
Reducing the burdens on the court.
But because we would just defer to you all and send the names along, I think.
I look forward to the enhanced communication.
I think it will be worthwhile.
I appreciate it.
Thank you.
Let's talk about some calendar events.
Yeah.
One item to tag along.
Sure.
We appreciate the committee, especially Mr.
Stark, taking the laboring work on communicating with his constituency.
But just so you know, we get daily inbound, both at Haynes and Moon, Kirkman and Ellis, and we respond by email and we have a team working to get those creditors information about the CRO website, the process for filing proofs of claim.
So the debtors of state recognizes that this is a, I would say, a choppy process, but one that needs to have all resources devoted.
So it's transparent and people have confidence that this case is moving forward and one day, you know, they will be taken care of as best we can.
Now, I appreciate that.
Appreciate the debtors efforts.
I just remarked the Chapter 11 process practices certainly changed in a decade.
The ability through the use of these claims agents, the websites, what I can't help but see and hear on YouTube and Twitter, it changes the landscape.
But I think for the better and transparency, even the ability to make our hearings available on Zoom.
So I thank the professionals for their work.
I know it's difficult given that these are personal.
This impacts the lives of many.
Thank you.
You're welcome.
On behalf of the state and all the professionals, we do appreciate Chambers dealing with these issues and we're happy to be as responsible as you want us to be in connection with inbounds to the court.
Great.
All right.
Thank you.
Thank you again.
So let me go through what I have coming up and you can all correct me where we've missed something.
Our next date is March 23rd.
We have two matters that have been scheduled, the sale motion and the extension of time to assume or reject.
I think that's five seventy one and five seventy two.
Those are still scheduled for March 23rd.
We have added the carry trustee three forty five motion.
The next date after that is April 19th in which we have what I call the pause motion as well as the first.
That's number five fifty nine and the first omnibus claims objection motion that was filed.
That's five seventy three.
And then there's another motion, Your Honor, where we're seeking to return the ACH payments that are held by scratch to customers in California.
Correct.
Oh, and then it's anticipated that that date will also be a motion for exclusivity to extend the debtors.
All right.
So a motion will be filed in due course.
Those are all intended for four nineteen.
We have a date that I've converted to an omnibus date.
It was the date for the initial disclosure statement and disclosure statement hearing.
That's May 8th.
That's right.
No, we need May dates.
I just turned that May 8th date into an omnibus date, so that's available for parties.
And.
We have to place.
We have what I'll call the redaction motions, including the confidential party.
It's early on number four on the docket as well as I believe one twenty seven confidential party status and also I think.
Redaction relative to Kroll number four forty three.
Those three redaction motions, ceiling motions, we need to put on a date.
So we have now through we have four nineteen.
We have through five eight and I can make two other dates available in May.
Do you have a preference?
I think I think May is fine.
Then we'll we'll carry those.
Yeah, I could give you a status update as to the counterparty ceiling as well as the redaction.
Mr. Sponsor.
There is sneaking up on me.
Yeah, so the P.I. redaction motion obviously huge concern for not only the debtors, but the committee as well as the ad hoc group who file jointers.
We'll try to have a discussion with the U.S.
to see if we could resolve it.
If not, we are going to have to have a hearing as to the counterparty redaction motion.
What we agreed to with the U.S.
trustee for the adjournment is we'll take it in chunks, meaning once we have completed a sale and the counterparty disclosure is not any more.
Prejudicial to the to the estate in the process will will file supplemental retention declarations and all those things to make those disclosures.
The issue becomes a lot of professionals who are going to file supplemental papers.
So we've got to work out a process so that we don't have 20 filings for every minor transaction.
So we got to figure that one out, but that's our goal is on a rolling basis to actually make those disclosures when they're not prejudicial to the estate of the counterparties who are no longer vying for state assets in one way or another.
So I think carrying it to the eight is important.
That particular counterparty ceiling motion may get kicked again based on what's happening.
And if we don't come to an agreement on the P.I. redaction motion in whole or part, we're probably going to have to have a hearing on it.
Fair enough witnesses then docket number matters reflected by docket numbers for one twenty seven and four forty three will be carried to five eight at ten o'clock.
And then as far as other May dates, I have made it probably doesn't make sense to have one a week later.
Five fifteen five fifteen and five twenty nine available.
I think we should hold the five twenty nine just in case.
Reserve it because you know if if I get booked, you know, future filing, it's Memorial Day.
Your Honor, it's Memorial Day Memorial Day.
That's a problem.
Well, hopefully I'll be on a golf course somewhere.
Then let's see.
Well, we could do five twenty two in the afternoon or then the next Monday is six five June 5th.
Trying to spread it out.
What when we do six five if we need to come back to court?
You know, some of these hearings may very well be zoom as opposed to being in person while we like being in person to the extent we need really.
We could always set something up.
That's fine.
And to the extent that emergent matters may arise, we'll schedule it either on my motion day, normal motion day or as needed.
Yeah.
So just to bring something to the court's attention on the record, two class action complaints were filed,
some of which have been served the debtor intends on filing today an adversary proceeding complaint seeking to stay those pending confirmation in the usual course under one oh five three sixty two.
And for all the arguments that have been made before we get to our complaint file that others have made,
you know, we're going to reach out to the plaintiff firms who started the class action lawsuits.
There are two, one in Jersey and the district court and one in Massachusetts.
And we are going to see if they will voluntarily stay these proceedings, whether we do it in chunks or whether we do it wholesale.
You know, we'll we'll discuss it with them.
But if they do not agree to avoid prejudice to the estate and any defaults or admissions, which we believe is prejudicial, we will come before your honor seeking a TRO in first instance.
So that might be later on this week, depending on how our discussions go.
And we just wanted to alert your honor because we may be making that request and then your honor could direct whether that be in person or by zoom.
All right, great. Then we'll see if there's a need and then we'll decide how to go about as far as the hearing.
I would anticipate Zoom would make the most sense.
That would be fine with us, your honor.
So are there any other matters that anyone wishes to raise? Mr. Sponder?
Thank you, your honor. Just wanted to piggyback off of Mr. Stark's comments to customers and just set forth on the record also that if customers do receive correspondence requesting their personal information that they should reach out to the United States trustee's office.
Great. Thank you. Appreciate that as well.
Quick question on the sale motion.
Can we give a short update? Are we going forward with the motion? I don't know what what transpired with the transaction.
Yes, your honor. We do anticipate going forward with the motion. And to my knowledge, it will not be contested, but I don't believe the objection deadline has run.
Okay.
All right.
Then we're good. I appreciate everybody's efforts.
And reach out for chambers as the need arises. Otherwise, be safe. Take care.
Thank you, your honor.
And we're done.
Good.
Goodbye. Okay, great. Thank you. Thank you all.