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

According to a recently leaked audio recording originating from the bankrupt crypto lender C, the business is trying to revive the company after falling financially. Following the leak, a bankruptcy judge for the Southern District of New York appointed a third-party appraiser to review the company’s finances. Celsius is also attempting to sell $23 million worth of stablecoins, according to a court filing filed on Thursday.

Celsius plans revival, Assessor appointed for financial review, Company wants access to Stablecoin liquidity

The ongoing bankruptcy in degrees Celsius continues and has recently been leaked recording a meeting together indicates that the company wants to try a revival plan. However, it appears that the Unsecured Creditors Committee (UCC) involved in Celsius’ bankruptcy does not seem to support this opinion.

In the leaked audio, it is said that Celsius wants to create a new business plan and pay off its debts through the company’s newly revised efforts and products. In addition to the alleged revival plan, court records shows that the bankruptcy judge for the Southern District of New York appointed a third-party assessor to examine Celsius’ finances.

Attorneys representing the creditors, and the UCC, asked the court to invite a third-party assessor to participate. A petition for a trustee was also filed and the judge approved a court order for an examiner on September 14.

Furthermore, UCC launched its own probe into thousands of documents related to degrees Celsius. In one apply to court announced on September 15, Celsius is looking to access $23 million in stablecoins the company currently holds.

News following degrees Celsius is allowed to sell bitcoins mined (BTC) it was held, but Celsius customers holding stablecoins on the platform also asserted that their stablecoins should be “treated differently”.

The court filing for Celsius’s attempt to get $23 million in stable money was for the purpose of creating liquidity. A trial on “Allowing the Sale of Stablecoin Assets” is scheduled for October 6.

Cards in this story

23 million dollars in stable money, Bankrupt, Bankruptcy Court, Cash injection, Bitcoin degrees C, Celsius Cryptocurrency Lenders, Celsius’s Customers, Lawyer Celsius, Chapter 11 Bankruptcy, court examiner, Court, Deputy Chief of Court Deanna Anderson, Cryptocurrency Lenders, assessor, Inability to pay, Joshua Sussberg, Judge Martin Glenn, Bitcoins are mined, Mined BTC, re-organize, The Southern District of New York, Stablecoins, UCC, dollar coin, USDC

What do you think of the latest developments in the Celsius bankruptcy? Let us know your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at News and a fintech journalist living in Florida. Redman has been an active member of the crypto community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written over 6,000 articles for News about the disruptive protocols emerging today.

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