Category: Creditors
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Celsius Bankruptcy Admin Distributes $2.5B To Creditors
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Celsius Network, a bankrupt crypto lender, has completed payments to two-thirds of its creditors despite challenges in the distribution process. In its first report, the entity responsible for the plan explained the status of the distribution plan and the next steps in the repayment process. Celsius distribution plan targets 375,000…
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Celsius Bankruptcy Admin Distributes $2.5B To Creditors
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Celsius Network, a bankrupt crypto lender, has completed payments to two-thirds of its creditors despite challenges in the distribution process. In its first report, the entity responsible for the plan explained the status of the distribution plan and the next steps in the repayment process. Celsius distribution plan targets 375,000…
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US Judge Orders FTX, Alameda To Pay A Staggering $12.7 Billion To Creditors
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FTX ruling issued. US District Judge Peter Castel agreed to $12.7 billion deal This requires the failed FTX exchange and its sister trading company, Alameda Research, to pay off their debts. On August 7, 2024, a ruling was issued ending a protracted legal dispute with the U.S. Commodity Futures Trading…
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US Judge Orders FTX, Alameda To Pay A Staggering $12.7 Billion To Creditors
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FTX ruling issued. US District Judge Peter Castel agreed to $12.7 billion deal This requires the failed FTX exchange and its sister trading company, Alameda Research, to pay off their debts. On August 7, 2024, a ruling was issued ending a protracted legal dispute with the U.S. Commodity Futures Trading…
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Mt. Gox creditors report Bitcoin balances on Kraken
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Kraken began distributing the bitcoin it received from Mt. Gox custodian on July 16. Creditors of defunct Bitcoin (BTC) exchange Mt. Gox reported seeing cryptocurrency balances on the Kraken platform, as affected users felt a sense of relief 10 years after the historic hack. The news was Certain On Reddit…
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Mt. Gox creditors report Bitcoin balances on Kraken
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Kraken began distributing the bitcoin it received from Mt. Gox custodian on July 16. Creditors of defunct Bitcoin (BTC) exchange Mt. Gox reported seeing cryptocurrency balances on the Kraken platform, as affected users felt a sense of relief 10 years after the historic hack. The news was Certain On Reddit…
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Purdue creditors seek approval to sue Sackler family members By Reuters
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By Dietrich Knuth NEW YORK (Reuters) – Creditors of Purdue Pharma Inc on Monday sought permission from a U.S. bankruptcy court to sue the company’s wealthy owners, arguing that litigation could serve as a negotiating tool and fallback option as the maker of the drug OxyContin resumes talks on a…
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FTX Creditors Filed an Objection against Bankruptcy Reorganization Plan
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A group of creditors of the now-collapsed FTX have moved to court, objecting to the cryptocurrency exchange’s bankruptcy reorganization plan, which would pay unsecured creditors the full amount of their claims, if not more. Formal objection from FTX creditors A group led by Sunil Kavori, one of FTX’s creditors, filed…
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FTX Creditors Rejected Bankruptcy Reorganization Plan
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Creditors of bankrupt cryptocurrency exchange FTX have filed an objection to the platform’s proposed reorganization plan, citing its failure to meet certain requirements of the bankruptcy code. according to tweet By FTX creditor activist Sunil Kavori, the objection argues that the reorganization plan ignores equity issues, does not meet the…
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Bankrupt Crypto Lender Genesis to Repay $3 Billion to Creditors
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US Bankruptcy Judge Sean Lin approved Genesis Global’s Chapter 11 liquidation plan on Friday, enabling the bankrupt cryptocurrency lender to return nearly $3 billion in cash and cryptocurrencies to its creditors. This ruling means that the parent company, Digital Currency Group (DCG), will not recover anything from the bankruptcy proceedings.…
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Genesis Global can distribute billions to creditors: judge
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Genesis Global, the digital asset lender that went bankrupt last year, has won court approval to pay billions in cash and cryptocurrencies to creditors. according to BloombergOn May 17, Southern District of New York Judge Shawn Lin confirmed Genesis’ Chapter 11 repayment plan, including the structure for returning crypto assets…
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Genesis Global can distribute billions to creditors: judge
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Genesis Global, the digital asset lender that went bankrupt last year, has won court approval to pay billions in cash and cryptocurrencies to creditors. according to BloombergOn May 17, Southern District of New York Judge Shawn Lin confirmed Genesis’ Chapter 11 repayment plan, including the structure for returning crypto assets…
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Bankrupt crypto lender Genesis gets OK to return billions in tokens and cash to creditors, meaning parent firm DCG ‘is out of the money’
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Bankrupt cryptocurrency bank Genesis Global Capital has won court approval for its plan to distribute billions of dollars in digital assets and cash to creditors, overcoming a legal ruling. challenge It was introduced by the company’s parent cryptocurrency group. Judge Sean Lin said late Friday that he will confirm Genesis’…
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Bankrupt Crypto Exchange FTX Lines Up $16 Billion To Repay Creditors
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bankrupt cryptocurrency exchange, FTX he have unveil A new payment plan aimed at Payment of creditors And clients are offering billions in compensation for the time value of their investments. FTX fully compensates clients In a press release on May 7, FTX a statement It will pay 98% of its…