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US Trustee challenges FTX reorganization plan, citing legal concerns
25.8.2024
The objections raised by the US Trustee and the creditor group are likely to play a significant role in the court’s deliberations
FTX says creditors supported reorganization plan with a 95% vote
22.8.2024
FTX chief restructuring officer and CEO John Ray III said the plan promises 100% return plus interest for non-governmental creditors
FTX and CFTC agree to $12.7B settlement, subject to court approval
17.7.2024
The US commodities regulator didn’t seek a civil monetary penalty, meaning the entire $12.7 billion would be used to pay back FTX’s creditors
FTX and CFTC agree to $12.7B settlement, subject to court approval
17.7.2024
The US commodities regulator didn’t seek a civil monetary penalty, meaning the entire $12.7 billion would be used to pay back FTX’s creditors
FTX creditors object to bankruptcy reorganization plan
7.6.2024
The group of creditors, led by Sunil Kavuri, cited several concerns, including forced taxation, which would compromise creditors’ best interests
FTX Creditors Set for Cash Windfall Beyond 100% of Claims
8.5.2024
A new reorganization plan filed Tuesday night proposes that nearly all FTX account holders will be repaid in full for their claims. They may even receive additional cash on top of that amount.
The post FTX Creditors Set for Cash Windfall Beyond 100% of Claims appeared first on Cryptonews
FTX Files Reorganization Plan to End Bankruptcy
18.12.2023
Asset values for creditor claims will be calculated at prices on the day FTX filed for bankruptcy in November 2022, the plan says
FTX’s Revised Reorganization Plan Addresses Cryptocurrency Claims Valuation
17.12.2023
Source: Adobe / Ascannio The debtors of now-defunct cryptocurrency exchange FTX have submitted an amended Chapter 11 plan of reorganization, suggesting that customer asset claims should be valued retroactively to the date of the exchange’s collapse in November last year. In a recent...
Gemini Earn Users Face Potential 70% Reduction in Promised Bitcoin Payouts Under Proposed Reorganization Plan
14.12.2023
Image Source: Shutterstock Gemini Earn creditors could potentially face up to 70% reduction in their promised crypto payouts as part of a proposed reorganization plan. The plan, outlined in an email sent by Gemini Trust on December 13, has now been put up for a vote, leaving creditors with...
Bankrupt Crypto Lending Firm Celsius Shifts Focus to Bitcoin Mining Amid SEC Feedback on Reorganization Plan
21.11.2023
Source: Adobe/Canva Crypto lender Celsius has amended its reorganization plan, opting for a singular focus on bitcoin mining instead of the initially proposed combination of mining and staking. In a court filing on Monday, Celsius signaled its departure from the earlier Plan that combined both...
Celsius entity to focus only on mining under proposed reorganization plan
21.11.2023
The lending firm has been in bankruptcy court since its Chapter 11 filing in 2022, while the SEC filed a lawsuit against both the firm and former CEO Alex Mashinsky in July
Celsius Bankruptcy Reorganization Plan Approved by Court; Implementation by Early 2024
10.11.2023
Crypto lender Celsius secured approval for its reorganization plan from a bankruptcy court on Thursday, marking an end to an ordeal that began when it filed for bankruptcy in July last year
Celsius' Bankruptcy Nears End as Creditors Approve Reorganization Plan
26.9.2023
Bankrupt crypto lender Celsius' creditors have voted to approve a plan that would return 67%-85% of holdings back to them
Celsius creditors vote in favor of reorganization plan
26.9.2023
The majority of Celsius creditors have voted in favor of a plan that will see approximately $2 billion worth of Bitcoin and Ethereum returned to creditors
FTX Unveils Reorganization Strategy, Proposing ‘Offshore Crypto Exchange’ and New Trust
1.8.2023
In the midst of the bankruptcy proceedings, FTX presented its primary reorganization strategy and term sheet to the U.S. bankruptcy court, detailing an ambitious plan to reinvent FTX as an “offshore crypto exchange” while also founding a new limited liability trust. At this time, the proposed...
Celsius seeks to convert alts to Bitcoin and Ether under reorganization plan
15.6.2023
The crypto lender has proposed converting all its altcoin holdings into Bitcoin and Ethereum to quell growing regulatory concerns and maximize the value of its assets
Crypto Lender Genesis Amends Reorganization Plan as Mediated Talks Continue
13.6.2023
The updated plan from mediated discussions with parent company DCG reflects “substantial agreement” on several key issues
DCG Fails to Make $630M Payment to Creditors Amid Genesis Negotiations, Says Gemini
23.5.2023
In the midst of the financial dispute between crypto exchange Gemini and Digital Currency Group (DCG), Gemini has alleged that DCG failed to make a payment of around $630 million that was due last week. In response, Gemini has stated that it may extend “forbearance” to DCG in order...
BlockFi Sent Out Reorganization Plan ‘Prematurely,’ Court Orders Them Withdrawn
23.5.2023
Bankruptcy cryptocurrency lender BlockFi took back statements it made earlier this month about a plan to reorganize which it said was done “prematurely.”
BlockFi released a “corrective letter to creditors” on Friday, directed by the court, asking them to disregard certain statements posted to...
Crypto Lender BlockFi Ordered to Withdraw Unapproved Reorganization Plan Shared 'Prematurely'
22.5.2023
The bankrupt estate was ordered to issue a corrective letter clarifying its May 13 disclosure statement was not approved by court