Crypto Lender BlockFi Gets Court Approval for Plan to Repay Customers

THE approval East seen as A milestone moment For BlockFi More than 100,000 the creditors, WHO to have has been long on hold refund.

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THE clients of bankruptcy cryptocurrency ready platform BlockFi are A stage closer has be paid out After A United States Bankruptcy Court In New Jersey approved It is liquidation plan.

Bankruptcy Judge Michael A. Kaplan approved BlockFi third amended Chapter 11 plan In A Seven. 26 court hearing, A deposit on THE even day shows.

Seven. 26 court deposit In THE bankruptcy case of BlockFi. Source: Kroll

THE Rising of refund received by BlockFi not guaranteed creditors will largely depend on if BlockFi succeeds In It is legal battle against FTX And other bankruptcy cryptocurrency businesses.

BlockFi deposit It is First of all liquidation plan has THE bankruptcy court on Nov. 28 but was SO required has submit A First of all, second And third amended plan not Can. 12, June. 28 And July 31 respectively, court deposits show.

BlockFi liquidation plan was approved After THE farm ruler A long fought dispute with THE creditors Committee on THE the company senior management.

A Seven. 25 court deposit watch that THE BlockFi creditors Committee recognized that THE regulation likely reduced additional administrative costs A...