Exciting Developments in Celsius Distribution for Creditors 🚀
If you’re a creditor with Celsius Network, you may be pleased to hear that significant progress has been made in distributing funds to those who are owed money. Let’s delve into the details of the latest updates to keep you informed and up to date with what’s happening.
Celsius Creditors Witness Rapid Fund Distribution 📈
- The distribution to creditors has been swift, especially since the payout process began in January.
- Within the initial two weeks, a substantial amount of $1.7 billion was successfully distributed to creditors.
- By the end of the first month, nearly 80% or around $2 billion had already been distributed.
Delay in Payouts for Some Celsius Creditors ⏳
- Approximately 121,000 eligible creditors are yet to claim their payouts, with each having an average claim of around $1,500.
- Out of this group, about 64,000 creditors are owed less than $100 each, while another 41,000 are due amounts ranging between $100 and $1,000.
- Furthermore, approximately 12,000 creditors are still awaiting their share from the bankruptcy distribution.
Challenges Faced in the Payout Process for Celsius Creditors 🤔
- The delay in payouts can be attributed to two primary factors:
- Some claims are being held back for specific reasons.
- Other creditors are missing crucial information in their accounts, which is hindering the payout process.
Celsius Successfully Concludes $3 Billion Distribution 🎉
Earlier this year, Celsius emerged from Chapter 11 bankruptcy proceedings, finalizing its reorganization plan by dispersing over $3 billion in both cryptocurrency and fiat to creditors. The latest updates indicate that a significant portion of the distributions has been successfully completed, signaling that the bankruptcy proceedings are drawing to a close in alignment with the court-approved reorganization plan.
HOT TAKE: Stay Informed about Celsius Distribution Progress! 🔥
It’s essential for Celsius creditors to stay updated on the swift distribution of funds and the challenges faced in the process. Keep track of the latest developments to ensure you don’t miss out on any crucial updates regarding your payouts.
Sources:
– court filing
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