Bankrupt crypto lender Celsius Network has reached two crucial settlements to end its bankruptcy proceedings and clear a path for the return of customer assets, revealed court filings.
Any responses or objections to the settlements must be submitted in court by the 3rd of August.
A Resolution In Sight
Celsius Network filed for Chapter 11 Bankruptcy in 2022, and customers have been waiting in anticipation of the outcome of its bankruptcy proceedings. While the settlements that will allow the bankrupt crypto lender to return customer assets have been reached, they still have to be analyzed by Judge Martin Glenn at a hearing scheduled for the 10th of August. If agreed, the settlements will allow Celsius to conclude bankruptcy proceedings and see the long-awaited return of customer assets.
Additionally, there is also a confirmation hearing on Celsius’ reorganization plan that has been scheduled for October. This means customers could begin to see the disbursements of their crypto a
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