On July 13, Celsius Network Filed bankruptcy under Chapter 11 under bankruptcy rules. In September, Celsius filed a plea in the court to use its Custody Withdrawals to clear its debts. Celsius Netw...
Tag: Trustee
Crypto Lender Celsius Shouldn’t Reopen Custody Withdrawals, US Trustee Says
The company’s motion to reopen withdrawals would apply only to customers holding “pure custody assets,” which Celsius has failed to define. The objection claims that distributing funds to a limi...
I’m a trustee for my brother: How should I handle his assets in a bear market?
Dear Harry, As a trustee for my brother, I am concerned with the current bear market and wondering if I should get out of the market altogether and place the funds in a money-market account until thin...
Celsius Crypto Borrowers Call for Bankruptcy Trustee, Oppose US DOJ Move to Appoint Examiner
The regulator went so far as to imply that Celsius operated like a Ponzi scheme, saying the company’s admission that it did not generate enough revenue to support its yield product “shows a high level...
Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’ – Bitcoin News
On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates...
Mt. Gox trustee releases repayment procedures update
Mt. Gox trustee Nobuaki Kobayashi released updated information on Wednesday regarding the rehabilitation plan for creditors of the long-defunct crypto exchange. According to the file, the restriction ...
US Trustee moves to appoint examiner in Celsius bankruptcy case
The United States Trustee wants to appoint an examiner to embattled lender Celsius to produce an unbiased public report providing transparency on the firm’s business operations, investments, tra...
US Trustee motions for examiner to probe Celsius’ ‘significant transparency issues’
The United States Trustee handling Celsius’ bankruptcy proceedings has called for an independent examiner to be brought in to “untangle” the embattled network’s financial affairs and business operatio...
Celsius Bankruptcy Case Requires Independent Examiner Says US Trustee Office
The United States Trustee Office has asked for an independent probe of Celsius in the bankruptcy case. A court filing states that there were multiple questions related to the transparency of Celsius’ ...
A Bankruptcy Examiner Should Look Into Crypto Lender Celsius Network’s Collapse, US Trustee Says
“The Debtors’ professionals acknowledge many of these facts and circumstances and have provided information requested by the United States Trustee. Irrespective of such cooperation, however, the...
Mt.Gox trustee shares updated repayment process under rehabilitation plan
Mt.Gox, a cryptocurrency exchange that shut down in 2014 following a massive hack, has released an update on the repayment process under the creditor rehabilitation plan. The updated details show that...
Bitcoin faces Mt. Gox ‘black swan’ as trustee prepares to unlock 150K BTC
Bitcoin (BTC) faces a new selling threat in the near future as users of defunct exchange Mt. Gox prepare to get their BTC back. In fresh correspondence dated July 6, attorney Nobuaki Kobayashi, appoin...
Can a Trustee Withdraw Money From a Trust Account?
SmartAsset: Can a Trustee Withdraw Money From a Trust Account? Trusts can be a useful tool for estate planning when you want to leave specific instructions about how your assets should be managed duri...