The deal would see DCG repay $275 million it owes to Genesis by April.
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"In the coming weeks, the Debtors intend to file a motion with the Bankruptcy Court to approve modifications to the Plan to reflect the new Mining NewCo transaction," the filing said. "The Debtors do not believe that these modifications will require resolicitation of the Plan. The Debtors still anticipate that Read More
Friday's legal complaint filed in Delaware targets Bybit Fintech Ltd., its investment arm Mirana and several individuals, including Mirana executive Sean Tan. It alleges the investment unit "received gross transfers from FTX.com of digital assets currently valued at approximately $838 million," of which about $500 million were transferred in the Read More
Crypto lender Celsius Network continues to face legal upheavals as it embarks on a new journey post-bankruptcy. Meanwhile, its native CEL token has seen a 40% increase in the past seven days.
Navigating legal challenges
Celsius Network’s transition unfolds against a backdrop of legal challenges and financial turbulence. The recent court endorsement Read More
The approved plan allows Celsius to distribute approximately $2 billion worth of Bitcoin (BTC) and Ethereum (ETH) and some shares of the new company to users who were unable to withdraw their funds
The Celsius bankruptcy plan has been approved. The path is now clear for customers to see some of Read More
Celsius Network is revamping into a Bitcoin mining company, promising customer repayments and an exit from bankruptcy.
Cryptocurrency lending platform Celsius Network has secured court approval to transition into a Bitcoin mining company owned by its creditors. This development is part of a comprehensive strategy to compensate account holders whose funds Read More
The Celsius bankruptcy plan has been approved. The path is now clear for customers to see some of their funds returned and receive shares in the reorganized company, which will be called NewCo.Judge Martin Glenn of the Southern District of New York Bankruptcy Court issued a confirmation on Nov. 9 Read More
WeWork has filed to begin bankruptcy proceedings to protect itself as it reorganizes debt in US and Canada only.
Co-working space provider WeWork Inc (NYSE: WE) has filed for Chapter 11 bankruptcy in New Jersey federal court. The bankruptcy filing is expected to protect the company from action against landlords and Read More