Quote from: cedivad on May 24, 2014, 07:01:14 PM

Edit 2: what exactly are they going to discuss on Wed if they have to wait for HF to file their chapter 11 the 3rd of the next month? And what will happen after that HF files for that? What's the timeline after that?

Judge wants more specifics on Hashfast's plan. He wants them in Chapter 11 now (he made that very clear), and he wants to keep a close eye on them since there is cause for concern.

Hashfast gets more concrete about its filing, says it wants Simon in charge moving forward and to sell chips, and if the judge will wait a few days, they will present a plan (voluntary conversion).

Creditors say they're not sure about that idea and expect to move for Simon to be replaced. Creditors are internally divided about what to do with chips, this might or might not be discussed openly.

Creditors will hopefully obtain totally unambiguous affirmation that the Delaware entity(ies) will be placed into the California bankruptcy. (This was not 100% clear to me, listening.)

New hearing a few days later. Maybe Friday. Or Monday. Discuss content of Hashfast's plan.

Of course, somebody could pull a rabbit out of their hat (like a nice statement from a former employee?), but that's what's supposed to happen now.

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Is there anyone out in bitcoinland that has credibility to take the reigns of this company, that everyone would trust? Or at least trust enough?

Simon could stay as CTO. In a technical role. Until the law catches up with him.