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Creditors will be sent ballots to vote on the plan, involving the sale of assets to a consortium including Arrington Capital and miner U.S. Bitcoin Corp, between Aug. 24 and Sept. 22. Returns for creditors – which will largely be done in bitcoin (BTC) and ether (ETH) – could range
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The lawyers argued that this would "require relief from this Court," they would be faced with a separate risk of commingling of their treasury investments, and the step "creates a risk of loss in the event of a need for rapid monetization, or the lack of liquidity in the surety
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FTX has outlined its intended reorganization plan, which will categorize claimants of the bankrupt exchange into specific classes and pave the way for it to become operational as an offshore entity. However, a body representing FTX customers said it is “extremely disappointed” by the plan. FTX’s Official Committee of Unsecured Creditors
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A body representing FTX customers said it is “extremely disappointed” by the exchange’s draft bankruptcy exit plan and claims it was ignored by FTX’s restructuring team.In a July 31 court filing, FTX’s Official Committee of Unsecured Creditors (UCC) said despite its repeated requests and previous promises from the team, it
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BlockFi “failed to complete basic due diligence” on Bankman-Fried’s empire, offering “special treatment for FTT and Alameda… that cast risk management principles entirely to the wind,” added the report, based on a review of 30,000 internal documents, and interviews and depositions with key individuals including founder and chief executive Zac
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Voyager Digital creditors have been trying to regain their funds since the lender collapsed a year ago. Data shows that massive withdrawals have already been made. According to data provided by Dune, creditors of the bankrupt
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New York-based law firm McDermott Will & Emery filed for compensation of $5.1 million from the creditors of bankrupt crypto brokerage firm Voyager Digital. The bill is for legal services offered between March 1 and May 13, 2023.In a July 3 court filing, the law firm billed the legal fees
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The co-founders of the collapsed crypto hedge fund, Three Arrows Capital (3AC), are committed to donating funds citing “good karma.” Some of their future earnings from their latest crypto venture will go to creditors who suffered
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Latest bill brings total compensation bills to $16.4 million for bankruptcy and restructuring firm. Original Source
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The co-founders of collapsed crypto hedge fund Three Arrows Capital (3AC) have pledged to donate a portion of earnings from their newest crypto venture to creditors who lost money in the fund’s 2022 collapse.In a July 3 Twitter Space, 3AC co-founder Kyle Davies said it would be “good karma” to
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