Creditors of the bankrupt cryptocurrency lender Celsius have approved a plan that could see them recover between 67% and 85% of their holdings. However, there have been objections to this plan, including from the U.S. Trustee, and the final approval from the court is still pending.
The U.S. Bankruptcy Court for the Southern District of New York will hold a confirmation hearing on October 2, 2023, to make a final decision on the matter. The approval of the plan would signal crucial progress towards resolving Celsius bankruptcy and returning funds to its customers.
The proposed plan received overwhelming support, with over 98% of votes in favor across most of the bankruptcy claim classes. This plan includes the sale of assets to the c…
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