Crypto lender Celsius Network, which went bankrupt in June last year, may already be able to end the bankruptcy process.
This is according to a lengthy document filed in the Bankruptcy Court for the Southern District of New York.
Chapter 11 for crypto lender Celsius Network
Indeed, Celsius had filed for and been granted what is known as Chapter 11, which is that provision of the US Bankruptcy Code that allows companies to attempt a restructuring following a bankruptcy filing.
Thus, Celsius did not immediately go into liquidation, but rather attempted some sort of restructuring so that the bankruptcy proceedings could be concluded without having to go to the length and breadth of a lengthy court proceeding.
Indeed, the above document states that Celsius Network has reached two agreements that allow it to return funds to all customers, thus effectively ending the bankruptcy proceedings a little over a year after its inception.
However, one more step is required before this break
We współpracy z: https://en.cryptonomist.ch/2023/07/24/bankruptcy-over-crypto-lender-celsius-network/
