The bankrupt crypto lender BlockFi is set to begin repaying its customers after it received approval to begin the repayment process for customers as part of its amended liquidation plan.
The United States Bankruptcy Court in New Jersey approved the liquidation plan.
Customers Set To Be Repaid
The customers of the bankrupt cryptocurrency lending platform, BlockFi have moved closer to being paid out. The development comes after a United States Bankruptcy Court in New Jersey approved of the company’s liquidation plan. The judge overseeing the bankruptcy proceedings, Michael A. Kaplan, approved BlockFi’s third amended Chapter 11 bankruptcy plan during a court hearing on the 26th of September. However, the amount that BlockFi’s creditors receive depends on the outcome of its legal battle with FTX and several other bankrupt cryptocurrency firms.
A court filing on the 15th of September showed that the BlockFi creditor committee mentioned that the settlement had reduced additional
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