RECEIVER UPDATE - 5 MARCH 2024

Further to the Receivers’ update, dated 1 March 2024, the Receivers wish to provide an additional update in response to BitFriend’s claim and the general comments from $HEC Tokenholders on the HEC Discord Network over the weekend.

Having been identified as the individuals (Mr Drury and Mr Pretlove) and firm (Interpath) that had the relevant expertise to liquidate and distribute Hector DAO’s treasury assets to Tokenholders, an application was made in the BVI to have the Receivers appointed through a court process. Harneys were engaged by Hector Enterprise Inc to make that application, which resulted in the appointment of the Receivers. They do not act and have never acted for the members of Hector DAO’s project management team. Given Harneys’ only involvement has been the preparation and filing of the BVI Application, there are no independence concerns and there is no conflict of interest with Harneys representing the Receivers.

The decision to appoint the Receivers to liquidate Hector DAO was taken without any knowledge that a small number of Tokenholders were intending to file a lawsuit in the US. However, the existence of the US lawsuit made it necessary to ensure the Receivers were appointed urgently so that they could take steps to preserve the treasury assets in the interests of all Tokenholders.  
 
The Receivers are engaging with the Tokenholders that brought the US lawsuit and have shared sufficient information to demonstrate that the Receivers are acting in the interests of all Tokenholders. The Receivers have not been asked to provide any information to the US court, which itself has denied the interim relief sought by these few Tokenholders in the US as the plaintiffs. It is important to note that the Receivers are non-parties in the US proceedings. The Receivers have engaged US legal advisors who have been invited by the Judge in the US proceedings to attend a call on Thursday this week however, at this stage it has not been accompanied by any specific agenda or request for information or documents.

The Receivers remain happy to field and address questions from the community and will continue to provide regular responses and updates especially where there is misinformation being shared.  

If Tokenholders have any specific concerns, please contact us at Hector@interpathadvisory.com.

RECEIVER UPDATE - 15 March 2024

There was a ‘return date’ hearing on 12 March 2024 whereby the BVI Court had previously stated that it intended to revisit the appointment of the Receiver which was on the basis of primarily collecting and preserving assets only. We are pleased to confirm that the BVI Court did make the continuation order sought verbally, amongst other things, but the Receivers are not yet able to provide details until the finalised and court stamped orders are approved and released, which is expected imminently. The Receivers’ lawyers have been chasing the BVI Court since Tuesday and as soon as this is received, the Receivers have a further update ready to be provided immediately to give additional information to Tokenholders.

We apologise for the lack of update this week. We were hoping that the order would be received so that we could provide the more substantial update but as this has not been received, we wanted to ensure that Tokenholders were given an explanation for the absence of any update. A further update will be provided early next week.

RECEIVER UPDATE - 11 APRIL 2024-

The Receivers wish to update Tokenholders that at a hearing on 9 April 2024, the BVI Court made an order that:

- the Receivers’ appointment be made final (i.e. appointed for the purpose of, amongst other things, effecting a distribution of Hector’s Dao’s treasury assets to eligible Tokenholders by way of redemption);
- additional powers be granted to the Receivers to assist with adjudicating creditor claims, finalizing a distribution plan and, ultimately, making a distribution;
- approval of the high-level decisions taken by the Receivers so far be given, with regard to the proposed distribution, and which were summarized in the update to Tokenholders dated 4 April 2024;
- required the Receiver to submit and obtain approval of a final distribution plan before any distribution is effected; and
- approved the costs incurred by the receivers and in relation to the receivership process up to the end of March 2024.

The Receivers have received suggestions and feedback from Tokenholders on the draft distribution plan, which we are grateful for, and we will be looking to provide a response to each of the points made. We expect a response will be provided next week by a formal note. In that note, we will seek to provide an estimated timeline for the distribution and an update on costs. Again, this will be open for consultation and comment from Tokenholders.

The Receivers are cognisant that an update on the Court order and distribution process is due. We are working on this and are waiting on information from third parties before this can be finalised and circulated. We expect this will be published in the coming day(s).

REMINDER: If you are a Tokenholder who missed the initial registration period, you are reminded that the deadline for the registration of new wallets shall expire on 26 April 2024. Any wallet addresses that have not been registered by this date shall not be eligible for inclusion within the distribution process. Please email Hector@interpathadvisory.com.

RECEIVER UPDATE – 19 JUNE 2024
 
FNFT - One of the community members (@Wazzup??) has provided a helpful guide as to how you may unlock your FNFTs. See attached.
 
KYC Process – It is good to see so many have already completed the KYC assessment. Looking at a number of the assessments already, many tokenholders have nod ft completed the wallet verification. You must sign a message on Etherscan and provide the Signature Hash. You cannot put “N/A”. The assessment will get rejected upon review and you may need to complete the assessment again. Please consult with the UserGuide throughout to ensure you're following the correct process (https://interpath.com/wp-content/uploads/2024/06/guide.pdf) 
 
For Canadian and US users, you can put N/A when asked for your Social Security number. This is automatic within the dApp but not applicable under BVI AML Legislation.
 
Any questions, please email Hector@Interpath.com

RECEIVER UPDATE - 25 JUNE 2024
 
Tokenholders are informed that the sanction hearing for approval of the final distribution plan will be held at 2.30 pm on Thursday 27 June 2024 before the Eastern Caribbean Supreme Court of the Virgin Islands.
 
Further, please note that the US Chapter 15 application will be heard on 15 July 2024. Objections are required to be filed by 8 July 2024 in the New Jersey Court. 
 
Please be reminded that the KYC assessment is live and Tokenholders and encouraged to complete the assessment as soon as possible.

RECEIVER UPDATE - 28 JUNE 2024

RECEIVER UPDATE - 24 JULY 2024
 
As the Receivers are preparing to make the first interim distribution, we note that there are still a lot of Tokenholders that have cleared the KYC process but have not yet sent their HEC to the Receivers’ wallets.
 
The Receivers have set up wallets for Fantom, Ethereum and Polygon blockchains where Tokens can be sent. The Receivers’ wallet address is: 0x526b4eCBE08B2EeAB54Cb026Fb40c55207Cc80B0
 
If you do not send your HEC, you will not be included in the distribution. Please ensure that you take immediate action. We are expecting to pay the first tranche tomorrow. We will be extracting the data at 5pm Eastern Time today.
 
For those Tokenholders that hold FNFTs/$HEC, please see the guidance on how to unlock these tokens  https://discord.com/channels/902514779690790932/903000513988136990/1252986669959876695

The Receivers understand that there may be a security issue with the Discord channel discord.gg/hector. Please do not connect your wallet. The Receivers; official Telegram channel https://t.me/hector_network or Discord Channel (Hector Network $HEC $TOR) is the only location where official announcements will be published.

All - The Receivers' latest update advised that a distribution would take place during the week commencing 5 August (not the 5th August). Upon finalising the list for distribution, again, we note that there are still a lot of Tokenholders that have cleared the KYC process but have not yet sent their HEC to the Receivers’ wallets - approximately 40% of wallets.
 
The Receivers have set up wallets for Fantom, Ethereum and Polygon blockchains where Tokens can be sent. The Receivers’ wallet address is: 0x526b4eCBE08B2EeAB54Cb026Fb40c55207Cc80B0. Please send tokens by 9 AM ET on 9 August 2024 to be included.