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

Leaked recordings from Celsius crypto lender, a bankrupt company, show that Celsius’s business attempted to save the company following a financial crisis. Following the leak, a Southern District of New York bankruptcy judge appointed a third-party examiner to review the company’s finances. According to court documents filed on Thursday, Celsius also wants to sell stablecoins valued at $23 million.

Celsius Revival Plan: Examiner appointed to scan Financials. Firm wants access to stablecoin liquidity

Celsius continues to be in bankruptcy. Recently leaked audio of an all-hands meeting shows that Celsius is interested in a plan for a recovery. However, it seems the Committee of Unsecured Creditors (UCC) tied to the Celsius bankruptcy doesn’t seem to support the idea.

In the leaked audio it is said that Celsius wants to craft a new business plan and pay off its debts via the company’s newly revised vertical efforts and products. In addition to the alleged revival plan, court filings show a Southern District of New York bankruptcy judge has appointed a third-party examiner to examine Celsius’ financials.

Both the UCC and creditors’ attorneys petitioned for an examiner to be appointed by the court. A petition for a trustee was also filed, and the judge granted a court order to an examiner on September 14.

The UCC launched an investigation into thousands more documents that are related to Celsius. According to a September 15 court filing, Celsius seeks $23 million worth of stablecoins.

The news follows Celsius being allowed to sell the mined bitcoin (BTC) it held, but Celsius customers who held stablecoins on the platform also insisted their stablecoins should be “treated differently.”

The court filing for Celsius’ attempt to obtain the $23 million in stablecoins is aimed at generating liquidity. A court hearing for “Permitting the Sale of Stablecoin” assets is scheduled for October 6.

In this story, tags
$23,000,000 in stablecoins. Bankruptcy. Bankruptcy Court. Cash Injections. Celsius bitcoin. Celsius crypto lender. Celsius Customer. Celsius Lawyer. Chapter 11 Bankruptcy. Court Examiner. Court Filings. Courtroom Deanna Anderson. Courtroom deputy. Deanna Anderson. Courtroom examiner. Insolvency. Joshua Sussberg.

How do you feel about recent developments in Celsius’s bankruptcy case? Comment below to share your opinions.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at Bitcoin.com News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has been an active member ever since. Since 2011, Redman has been an active member of the cryptocurrency community. Redman has contributed more than 6000 articles to Bitcoin.com News since September 2015. These articles are about disruptive protocols that are emerging.

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