Celsius opens the possibility of a debt token to repay creditors; Ensures the judicial approval for the processing of customer withdrawals -
Celsius opens the possibility of a debt token to repay creditors; Ensures the judicial approval for the processing of customer withdrawals -
The no longer existing crypto loan Celsius checks the opportunity to create a debt token in order to repay the creditors. The plan would have to be approved by the supervisory authorities, but if it were approved by the trustee and the tax authorities, the debt token would be referred to as the "asset share token (AST)".
Celsius proposes "Asset Share Token" as a plan for repayment of creditors, subject to official approval
different report a Editorial On the topic that was published by Bloomberg on January 24, Celsius lawyers have described in detail that the bankrupt company wants to become a listed recovery company that could spend a promise to repay the creditors.
according to Celsius Legal Ross M. Kwasteniet, the plan and the new asset would be referred to as "Asset Share Token" (AST). More specifically, Celsius believers who meet certain threshold requirements would be entitled to receive the branch. According to reports, this is not the first time that Celsius is thinking about the output of an IOU token.
The asset share token (AST) does not give the creditors complete repayment and they would receive a discount on their debts. According to Celsius lawyer Ross M. Kwasteniet, the proposal would not be a complete restoration, but would be an advantage for creditors who are looking for liquid funds. He mentioned that the branch would be easy to act, similar to how many of today's crypto assets.
insolvency judge approved withdrawal application
The news follows the New York Attorney General Letitia James Submit against Alex Mashinsky, the co -founder and former CEO of Celsius, because of the alleged misleading of investors. On the same day, the insolvency court based in New York decided that Celsius has the rights to InslDer money.
Tuesday is court files further show that Celsius has been approved to process a fraction of the customer withdrawals. The bankruptcy court also gave Celsius Airdropped flare (flr) To distribute customers who held these xrp
What do you think about the proposal of Celsius to repay creditors by using an "asset share token"? Share your thoughts in the comments below.
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