reorganization plan – DIGIT INFO

US Trustee challenges FTX reorganization plan, citing legal concerns

DIGIT — Sun, 25 Aug 2024 07:49:33 +0000

The objections raised by the US Trustee and the creditor group are likely to play a significant role in the court’s deliberations.

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FTX and CFTC agree to $12.7B settlement, subject to court approval

DIGIT — Tue, 16 Jul 2024 23:00:31 +0000

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.

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Gemini creditors revolt over ‘brutal’ Bitcoin slashing reorg plan

DIGIT — Thu, 14 Dec 2023 05:04:50 +0000

Under the proposed plan, Gemini Earn users may only recover 61% of their lost funds in a worst-case scenario.

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Crypto Lender Celsius to Be Acquired by Novawulf, Exiting Chapter 11

DIGIT — Thu, 16 Feb 2023 14:30:52 +0000

Crypto lender Celsius’ committee of unsecured creditors has chosen the digital asset investment firm Novawulf Digital Management to sponsor the company’s reorganization plan, according to a statement published on Wednesday. The proposed agreement would enable Celsius to exit the Chapter 11 bankruptcy process, and the new owners could begin distributing funds as early as June, […]

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FTX’s $5.5 Billion in Alleged ‘Liquid Assets’ Includes Locked SOL Cache and Illiquid FTT Holdings

DIGIT — Thu, 19 Jan 2023 17:30:50 +0000

Two days ago, bankruptcy administrators and FTX debtors published an update for unsecured creditors claiming the discovery of $5.5 billion in liquid assets. Roughly $3.5 billion of these funds are cryptocurrency assets, with 11 different digital currencies classified as “liquid assets.” However, two of the firm’s top cryptocurrency caches are not liquid as the company’s […]

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