Associated tags: BlockFi, Title 11 of the United States Code, Berkeley Research Group, Security (finance), Finance, Professional Services, FTX, Digital Cash Management, Digital Assets, Moelis & Company, Kirkland & Ellis, Bankruptcy, Cryptocurrency, Haynes, United States bankruptcy court, Other Professional Services, Other Technology, Wallet, Banking, United States Bankruptcy Court for the Southern District of New York, Key employee
Locations: NEW JERSEY, UNITED STATES, NORTH AMERICA, BERMUDA
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Wallet BlockFi Inc. and certain of its affiliates (“BlockFi” or “the Company”) today announce that its Disclosure Statement was conditionally approved by the United States Bankruptcy Court for the District of New Jersey (“the Court”) on August 2, 2023.
Key Points:
- BlockFi Inc. and certain of its affiliates (“BlockFi” or “the Company”) today announce that its Disclosure Statement was conditionally approved by the United States Bankruptcy Court for the District of New Jersey (“the Court”) on August 2, 2023.
- BlockFi’s Chapter 11 Plan (“Plan”) maximizes recovery for clients and provides for the quickest possible distributions to clients.
- BlockFi’s eligible creditors have the opportunity to vote in favor of the Plan and will receive BlockFi’s Disclosure Statement and Plan, detailed voting instructions, and additional important information.
- Capitalized terms used that are not otherwise defined herein shall have the meanings given to them in the Plan and Disclosure Statement.
Retrieved on:
Monday, November 28, 2022
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Security (finance) As part of its restructuring efforts, the Company will focus on recovering all obligations owed to BlockFi by its counterparties, including FTX and associated corporate entities (FTX).
Key Points:
- As part of its restructuring efforts, the Company will focus on recovering all obligations owed to BlockFi by its counterparties, including FTX and associated corporate entities (FTX).
- From inception, BlockFi has worked to positively shape the cryptocurrency industry and advance the sector.
- BlockFi looks forward to a transparent process that achieves the best outcome for all clients and other stakeholders.
- BlockFi has US$256.9 million in cash on hand, which is expected to provide sufficient liquidity to support certain operations during the restructuring process.
