2022-7-14 02:46 |
An unnamed source told CNBC that the company plans to file the bankruptcy paperwork "imminently."
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CNBC reported Wednesday night that Celsius has informed: “state regulators that it’s filing for bankruptcy ‘imminently. ” The company will move toward chapter 11 bankruptcy as it struggles to deal with its liquidity issues.
2022-7-14 04:21 | |
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A U.S. bankruptcy court recently ordered cryptocurrency lender BlockFi to withdraw its prematurely disclosed Chapter 11 reorganization plan and accompanying statement until all materials are formally authorized.
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The prospects of Celsius’ creditors recovering their funds from the exchange any time soon are looking slim, with parties advised to brace themselves for an extended tussle in court. The post Celsius Customers Could Wait Years to Access Funds appeared first on BeInCrypto.
The company says it’s planning to continue operations throughout the restructuring process, though withdrawals will continue to be paused at this time.