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“We are excited to share the news that we are launching a new investment entity, Valinor, to pursue investment opportunities related to blockchain and financial innovation. While our NovaWulf chapter has come to an end, we are fortunate to have the backing and collaboration of some of our former partners
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More than 600,000 Celsius creditors would be closely monitoring the auction as it likely determines subsequent payment schemes. According to a Saturday filing by Kirkland & Ellis, the auction proceedings for bankrupt crypto lending firm Celsius Network LLC will begin on Tuesday. The document further states that the public sale of the New
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General earn creditors, with claims below $5,000, will see 70% recovery of their claims in liquidity cryptos, the presentation said. Up to 100% of the rest of the assets, minus what is needed to run the new company, will be dispersed to earn creditors with claims over $5,000, who will
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Celsius Network, the bankrupt cryptocurrency company, filed its chapter 11 reorganization plan in the late hours of March 31, 2023, built around NovaWulf Digital Management, an SEC-registered investment manager. Celsius submits chapter 11 restructuring plan The announcement was made by the Celsius Official Committee of Unsecured Creditors, pointing this as a significant step in
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Enough progress has been made to suggest the plan to set up a new recovery corporation should be the only one on the table, Martin Glenn said Source
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NewCo will be a regulatory-compliant public, reporting company 100% owned by Earn creditors, all of whom will receive a significant distribution of liquid crypto, with a "convenience class" of creditors receiving 70% recovery of their funds. No Celsius founder will be involved in NewCo and the majority of the NewCo
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