The agreements would resolve customer claims over fraud allegations by raising recoveries 5%, the WSJ said.
The agreements would resolve customer claims over fraud allegations by raising recoveries 5%, the WSJ said, adding that a total of 30,000 claims seeking $78 billion could be settled.
Celsius will see court approval for the settlements on Aug. 10 at a hearing, according to the report. A confirmation hearing on Celsius' reorganization plan is set for October, and customers could start to see disbursements of crypto and other assets before the end of the year, the WSJ added. While Celsius lawyers have argued that customers are owed no more than that they had deposited, some users filed claims seeking damages for alleged misconduct by former management.
Celsius filed for bankruptcy about a year ago in one of the highest profile crypto implosions ever. At one point the crypto lender held $30 billion in assets. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Celsius Network Reaches Key Settlements to Resolve LitigationCelsius Network reached settlements that potentially clear a path for the crypto lender to win court approval for its plan to return assets to its customers and conclude its bankruptcy.
Consulte Mais informação »
Activist investor Elliott takes big stake in drugmaker Catalent - WSJActivist investor Elliott Investment has built a significant stake in Catalent and is pushing for a shake-up on the contract drug manufacturer's board, the Wall Street Journal reported on Wednesday.
Consulte Mais informação »
WSJ News Exclusive | This Arkansas Town Could Become the Epicenter of a U.S. Lithium BoomNear the quiet town of Magnolia, companies including Exxon Mobil are working out how to extract lithium from brine water to help power electric vehicles.
Consulte Mais informação »
WSJ News Exclusive | Sergey Brin Is Back in the Trenches at GoogleGoogle co-founder Sergey Brin is back at work. The multibillionaire, who stepped down from an executive role at Alphabet in 2019, has been visiting the tech giant’s offices regularly to help researchers build the company’s next big AI model.
Consulte Mais informação »