COCOON HOLDINGS and the petitioner have signed a settlement agreement and jointly filed a consent summons seeking the court's order to allow the withdrawal of the petition
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COCOON HOLDINGS has reached a settlement agreement with the petitioner, and both parties have jointly signed a consent order seeking the court's approval to withdraw the winding-up petition and cancel the hearing originally scheduled for December 31. The group stated that this petition has no significant impact on its operations and financial condition. The petitioner is an independent third party that issued promissory notes in 2017, with unpaid interest amounting to 1.1 million
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