Cryptocurrency lender Celsius Network said it is preparing to file a motion requesting a deadline extension for users to submit their claims by another month.
In its latest update, Celsius stated that the motion is scheduled to be heard by the bankruptcy court on January 10. The deadline will be extended until at least then.
“For now, the deadline is extended until the motion is heard by the Court. We will provide further updates on the bar date as they become available.”
Celsius had filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the Southern District of New York in July following the unraveling of the Terra ecosystem tokens.
As per the court filing by consulting firm Kirkland & Ellis, the company had $2.8 billion in liabilities on its balance sheet.
Celsius was also granted an extension to submit the Chapter 11 reorganization plan until mid-February.
During the same time, bankruptcy judge Martin Glenn ordered the embattled crypto lender to return fun
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