Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: coingabbarmarket on September 27, 2023, 02:25:36 PM
-
Celsius Creditors voted in favor of reorganization planning
The creditors involved in the Celsius Bankruptcy case have voted in favor of a scheme through which they will be refunded. With this, equity distribution will be done through a new company. According to the filing of the bankerpse firm Stretto, most classes have voted more than 98% in favor of reorganization planning. However, the voters have almost taken a decision on this scheme. But the plan will still need a final approval in the US Bankruptcy Court for the Southern District of New York by 2 October. At the same time, this new scheme will do equity distribution in a new company, which will be temporarily called Newco.
-
Celsius' Bankruptcy Nears End as Creditors Approve Reorganization Plan
Bankrupt crypto lender Celsius' creditors have voted to approve a plan that would return 67%-85% of holdings back to them, according to a voting declaration filing by restructuring specialist Stretto that awaits final approval from the court.
Watch video for yourself Thankyou.
For More Information Here https://www.coindesk.com/policy/2023/09/26/celsius-bankruptcy-nears-end-as-creditors-approve-reorganization-plan/ (https://www.coindesk.com/policy/2023/09/26/celsius-bankruptcy-nears-end-as-creditors-approve-reorganization-plan/)