Celsius completes bankruptcy reorganization, to distribute $3 billion to creditors, establishes mining company
Celsius announced that it has officially concluded its Chapter 11 bankruptcy reorganization process, successfully recovering funds from bankruptcy with the support of nearly 98% of account holders and approval from the Southern District of New York Bankruptcy Court on November 9, 2023. The core of the reorganization plan involves distributing $3 billion in cryptocurrency and fiat to creditors and establishing a new Bitcoin mining entity, Ionic Digital, operated under the guidance of Hut 8 Corp.
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Celsius has officially emerged from Chapter 11 bankruptcy reorganization, successfully recovering funds and receiving support from nearly 98% of account holders and the approval of the Southern District of New York Bankruptcy Court on November 9, 2023. The core of the reorganization plan involves distributing $3 billion in cryptocurrency and fiat to creditors and establishing a new Bitcoin mining entity, Ionic Digital, operated under the guidance of Hut 8 Corp.
Will Celsius, approved by the court to transform into a Bitcoin mining company, have creditors become new shareholders?
Crypto lending company Celsius: Creditors who withdrew over $100,000 in the 90 days before bankruptcy must return some funds
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