Crypto lender Celsius’ committee of unsecured creditors has chosen the digital asset investment firm Novawulf Digital Management to sponsor the company’s reorganization plan, according to a statement published on Wednesday. The proposed agreement would enable Celsius to exit the Chapter 11 bankruptcy process, and the new owners could begin distributing funds as early as June, said the company’s attorney Ross Kwasteniet.
Celsius Says Novawulf Deal to Provide Path Forward for Celsius Creditors and Illiquid Assets
Crypto lender Celsius, which filed for bankruptcy in July 2022, has announced that it will be acquired by Novawulf Digital Management. The company was selected out of more than 130 bids, and Celsius has described the proposed acquisition as a “value-maximizing conclusion.”
Celsius’ committee of unsecured creditors also tweeted about the deal on Wednesday, stating that the reorganization plan will distribute “liquid crypto to all account holders.” Alongside this,
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