The request filed by the crypto lender on March 21 seeks a new deadline to submit a restructuring plan.
Judge Michael Kaplan suggested BlockFi submit its plan by May 11.
BlockFi, the bankrupt crypto lender, has reportedly been granted a 48-day extension to file its exit plan. According to the company’s attorney Joshua Sussberg BlockFi is potentially selling companies assets and seeking some outside who can back the restructuring deal.
According to documents, debtors must propose a Chapter-11 exit plan within 120 days of filing. Although the court instructed BlockFi to present their plan by March 27, on March 21, the lender filed a request letter in court seeking an extension in submission dates by 90 days to June 26.
The extension of the filing exit plan was granted by Judge Michael Kaplan, who believes that giving an extension will ease the way for the smooth continuation of the issue, as per reports of TheCoinRepublic BlockFi filed for Chapter-11 protection with the U
We współpracy z: https://www.thecoinrepublic.com/2023/04/21/blockfi-gets-extension-to-file-chapter-11-exit-plan-report/
