According to Bloomberg News on January 24, the closed data encryption credit company Celsius may sell its own tokens to repay creditors. Bloomberg cited the short video court hearing as the data source.
According to the source, Ross M. Kwasteniet, a lawyer of Celsius, told the court that the company was negotiating with creditors on how to restart the service platform and fully repay the debt. The latest version that goes online again is undoubtedly "a moderately approved listed company". It is understood that this will provide better assets for creditors, not just liquidation companies. If approved by creditors and the court, the enterprise will "distribute new tokens to creditors as part of the payment plan" after the reorganization
The report said that the small details of the plan would be submitted to the court later this week.
ofSuggestion: Genesis 1 implosion of digital currency company: what will happen next?
Twitter user CelsiusFacts often publishes the latest news about the case on Twitter. He claims to have seen the small details of the reorganization plan. According to a statement on January 24th, Celsius Network is prepared to make public transactions and use "third-party services" to ensure that it complies with US financial regulations. Users can obtain claims up to 7500 US dollars or 95% of the total amount, whichever is smaller. The new token will be used to purchase the remaining 5% or above $7500.
The court schedule of this case indicates that the "comprehensive hearing" is scheduled to be held on January 24, and the agenda of the meeting will be announced by the court before the hearing. This hearing may be the source of Bloomberg and Celsius Facts reports, although CoinTelegram could not confirm this at the time of release.
Celsius blocked customers from withdrawing cash in June because of insufficient liquidity caused by "extreme sales market standards". In July, it declared bankruptcy. On January 5, the Attorney General of New York City filed a lawsuit against Alex Mashinsky, the founder of Celsius, accusing her of providing "false and misleading statements" to investors.
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