Celsius Network, the bankrupt cryptocurrency lender, has received court approval for its restructuring plan as it works to emerge from bankruptcy. The plan, which allows Celsius to restructure its debts and continue operating, received a United States bankruptcy judge’s permission to commence creditor votes.
Celsius Receives Blessing From The Court
Celsius Network, a crypto lending platform, filed for bankruptcy in July 2022 after the downturn in crypto markets caused a liquidity crisis. The company had around 600,000 clients during the height of its operations, and those clients had approximately $4.4 billion in interest-bearing accounts.
Following the bankruptcy, Celsius had initially made known its plan to repay its creditors, saying it would distribute at least $2 billion of cryptocurrency to its creditors.
With Judge Martin Glenn of a Manhattan Bankruptcy Court now signing off on Celsius’s disclosure statement, creditors, including customers, suppliers, and investors, will hav
We współpracy z: https://bitcoinist.com/celsius-turns-to-customer-vote/
