Yesterday, news broke that Celsius will be returning at least $2.03 billion in crypto to creditors.
#Celsius will distribute at least $2.03B of crypto to Creditors.Meanwhile, NewCo will be seeded with up to $450 million in crypto.
— Celsius NewCo Community (@CelsiusNewCo) October 2, 2023
The news was spread by the unofficial X-Profile Celsius NewCo Community, which collects and publishes the most important news about the Celsius bankruptcy case.
The prosecution
However, in order to proceed with the repayments, the company needs to get the green light from the court.
Indeed, last year the company filed for and obtained Chapter 11 status under the US Civil Code, which governs bankruptcy proceedings, so any action must be approved by the bankruptcy court handling the case.
The filing was made yesterday and is expected to be approved.
It should be noted that Chapter 11 allows the company to reopen and, in fact, the proposal is to create a NewCo that will receive $450 million fro
We współpracy z: https://en.cryptonomist.ch/2023/10/03/celsius-return-two-billion-crypto/
