Examiner Appointed to Celsius Bankruptcy Case, Crypto Lender Files for Access to $23M in Stablecoins

According to a precocious leaked signaling stemming from the bankrupt crypto lender Celsius, the concern is attempting to revive the institution aft falling into a fiscal burden. Following the leak, a Southern District of New York bankruptcy justice appointed a third-party examiner to reappraisal the company’s finances. Celsius is besides attempting to merchantability a stash of stablecoins worthy $23 million, according to a tribunal filing submitted connected Thursday.

Celsius Looks to Revival Plan, Examiner Appointed to Scan Financials, Firm Wants Access to Stablecoin Liquidity

The ongoing Celsius bankruptcy continues and a precocious leaked all-hands gathering recording indicates that the steadfast wants to effort a revival plan. However, it seems the Committee of Unsecured Creditors (UCC) tied to the Celsius bankruptcy doesn’t look to enactment the idea.

In the leaked audio it is said that Celsius wants to trade a caller concern program and wage disconnected its debts via the company’s recently revised vertical efforts and products. In summation to the alleged revival plan, court filings amusement a Southern District of New York bankruptcy justice has appointed a third-party examiner to analyse Celsius’ financials.

Attorneys representing the creditors, and the UCC, petitioned the tribunal to get a third-party examiner involved. Petitions for a trustee were submitted arsenic well, and the justice approved a tribunal bid for an examiner connected September 14.

Furthermore, the UCC has launched its ain probe into thousands of Celsius-related documents. In a court filing published connected September 15, Celsius is looking to entree $23 cardinal successful stablecoins the institution presently holds.

The quality follows Celsius being allowed to sell the mined bitcoin (BTC) it held, but Celsius customers who held stablecoins connected the level besides insisted their stablecoins should beryllium “treated differently.”

The tribunal filing for Celsius’ effort to get the $23 cardinal successful stablecoins is aimed astatine generating liquidity. A tribunal proceeding for “Permitting the Sale of Stablecoin” assets is scheduled for October 6.

What bash you deliberation astir the latest developments successful the Celsius bankruptcy case? Let america cognize your thoughts astir this taxable successful the comments conception below.