Bitmart holds two rounds of consultations with top 50... begins drafting legal documents

BitMart has completed two rounds of formal consultations with participating users among its top 50 account holders by balance and begun drafting detailed legal documents for its restructuring plan, the exchange said in an official notice on the 13th. The first meeting was held on November 2 and the second on the 12th, with user feedback being incorporated into the recovery options and specific plan terms. The talks follow the initial restructuring proposal and timetable BitMart published on September 30, under which user balances would be converted to dollar value and claimants offered one or a combination of recovery methods. The process matters because it determines how the exchange's unpaid user balances are returned, and the next step to watch is the completion of the legal documentation formalizing the plan's conditions.