Celsius Proposes Restructuring to Offer One-Time ‘Meaningful Recovery’ Payout for Most Creditors

Canadian Pension Giant Caisse Writes Off $150M Bet on Bankrupt Crypto Lender Celsius

“[The distribution] would be at a discount. We’re not envisioning a full recovery, but it’s a meaningful recovery, Your Honor,” said Ross Kwastaniet, a lawyer for Kirkland & Ellis, the white-shoe law firm representing Celsius. “It would be a one-time distribution in liquid crypto – call it bitcoin, ethereum or stablecoins. Something that has, you know, readily tradable, readily ascertainable market value to everybody who has claims below a certain threshold.”

Source link

Be the first to comment

Leave a Reply

Your email address will not be published.


*