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FTX Reaches Settlement With IRS on $24 Billion Tax Claim
4.6.2024
Crypto exchange FTX has reached a settlement with the Internal Revenue Service (IRS), reducing its $24 billion claim to $200 million to be paid within 60 days after the company’s restructuring plan is approved. Additionally, the U.S. tax authority will receive a $685 million lower priority...
FTX Transfers $8.3M a Day Before Amended Proposal Deadline for Restructuring Plan
7.5.2024
This transfer occurred just a day before FTX debtors were scheduled to release an amended restructuring plan for the exchange, adding a layer of intrigue to an already complex situation.
The post FTX Transfers $8.3M a Day Before Amended Proposal Deadline for Restructuring Plan appeared first...
Crypto Titan Digital Currency Group Opposes Genesis’ Restructuring Plan for Favoring Select Creditors
7.2.2024
In a legal document filed on Feb. 6, 2024, the crypto juggernaut, Digital Currency Group (DCG), voiced opposition to Genesis’ revised bankruptcy strategy for multiple concerns. DCG argues that the plan favors certain creditors over others unjustly, and the company’s legal team charges...
Zipmex Proposes Repayment of 3.35 Cents Per Dollar to Creditors in Latest Restructuring Plan
29.11.2023
Source: Zipmex Zipmex has put forward a new proposal to repay creditors, initially offering 3.35 cents for each dollar of their claims as part of its restructuring efforts, according to Bloomberg. This initial payout is part of a broader plan to address the crypto exchange’s $97.1 million...
Celsius Bankruptcy Saga Nears Closure as Court Approves Restructuring Plan
9.11.2023
In a pivotal moment for Celsius Network LLC and its affiliates, the Southern District of New York Bankruptcy Court has issued a confirmation order for the modified joint Chapter 11 Plan of the crypto lender. The approval sets the stage for a significant overhaul following the tumultuous financial...
Celsius Network Seeks Final Court Approval to Begin Customer Repayments by Year-End
3.10.2023
During an October 2 hearing regarding the approval of its reorganization plan, the bankrupt crypto lender, Celsius Network, informed a judge of its intention to initiate repayments to its customers by the end of the year....
Read More: Celsius Network Seeks Final Court Approval to Begin Customer...
SEC raises concerns over Coinbase in objection to Celsius restructuring plan
25.9.2023
Coinbase CEO Brian Armstrong and chief legal officer Paul Grewal issued a joint statement questioning the SEC's reasoning in its Sept. 22 objection
Celsius Sends Bankruptcy Restructuring Plan To Creditors Vote After Court’s Approval
18.8.2023
Bankrupt crypto lender Celsius is set to hold a vote on a plan to sell its asset to Fahrenheit Group following the approval by a judge as the proceeding winds down.
Celsius will send its creditors ballots to vote on the proposal between Aug 24 and Sept 22 and if approved, creditors could receive...
FTX creditors unimpressed with exchange's bankruptcy exit plan
2.8.2023
FTX’s official creditor committee said the current plan would add costs and delays to what’s already on track to be a historically expensive bankruptcy
FTX.com releases restructuring plan, hints at rebooted offshore exchange
1.8.2023
Reams of dockets from FTX.com have been filed alongside a proposed reorganization plan which could see FTX resurrected as an offshore exchange
Zipmex requests 2-month extension from Singapore court for restructuring plan
18.4.2023
A ruling from Singapore’s High Court originally allowed Zipmex a moratorium until December 2022 to handle debt relief amid reported liquidity issues
Celsius Network to make April 12 filing, including info on voting for restructuring plan
7.4.2023
"Our Disclosure Statement will provide a summary of the Plan, account-holder recovery percentages, FAQs, and additional information on certain risk factors," said Celsius
Crypto Exchange Zipmex's Restructuring Plan Approved by Singapore Court
30.3.2023
Disney reportedly scraps its metaverse division
28.3.2023
The metaverse division was originally put together to work on new ways to engage Disney’s audience
SEC snubbed as Voyager wins court approval for sale to Binance US
8.3.2023
The ruling allows the crypto lender a path out of its bankruptcy, but it still has to undertake some due diligence with Binance US before the sale is final
FLEX Token Rises 21% After CoinFLEX Restructuring Plan Approved
7.3.2023
FLEX, the native token of the CoinFlex exchange, has risen by 21% after it emerged that a restructuring plan in the Seychelles had been approved
Binance US restructuring plan favored by 97% of Voyager customers
1.3.2023
An overwhelming majority of Voyager account holders want Binance US to buy out the firm’s assets
Crypto Lender Voyager Says Majority of Customers Voted for Restructuring Plan With Binance US
1.3.2023
Crypto lender Voyager Digital Holdings, which filed for bankruptcy last year, said Tuesday night that 97% of its customers, representing 98% of total claims, voted in favor of a chapter 11 restructuring plan which will see Binance US acquire some of its assets
Crypto Lender Vauld Gets Further Extension for Restructuring Plan
27.2.2023
Vauld now has until March 24 to present its restructuring plan. Its existing legal protection from its creditors expires on Feb. 28
Celsius‘ motion to extend timeline for restructuring plan faces objection from creditors
9.2.2023
“It is time to allow the Debtors’ customers to propose their own plan for the assets that they were defrauded into investing with Celsius,” said a Withhold account holders’ filing