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.
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.
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