The BlockFi bankruptcy case, culminating in a significant payout to its legal team, underscores the intricate and costly nature of legal battles in cryptocurrency. As firms like Kirkland & Ellis ...
According to the bankruptcy code, debtors are expected to present a Chapter 11 plan within 120 days of filing for bankruptcy. For BlockFi, the company needed to submit a plan by March 27.
BlockFi, a crypto loan and borrow platform, filed for Chapter 11 bankruptcy protection on Monday, becoming the latest crypto firm to go under following the rapid collapse of offshore trading venue ...
In its bankruptcy filing in November 2022, BlockFi had cited its loans to FTX's sister firm Alameda as one of the reasons for its collapse. Separately, FTX founder Sam Bankman-Fried is currently ...
NEW YORK: BlockFi, the first direct casualty of crypto exchange FTX’s collapse, tells a US bankruptcy judge that the US cryptocurrency lender was “the antithesis of FTX” and that it would ...
and who has jurisdiction over these issues — the criminal courts or the bankruptcy courts. In the BlockFi case, the DOJ seized assets of the company pursuant to criminal and civil forfeitures, arguing ...
FTX proposed bankruptcy repayment still faces significant ... customer repayment in recent crypto bankruptcies, including the BlockFi and Genesis Global cases. If the government does not agree ...
Under the new settlement, FTX agreed to prioritize a $250 million payment to BlockFi, and the remainder of the settlement is contingent on its efforts to repay its own customers in bankruptcy. The two ...
Bankruptcy, on the other hand, is a legal debt relief avenue by which the courts can require your lenders to discharge your debt (Chapter 7 bankruptcy) or work with you to restructure your assets ...
Bankruptcy is a legal proceeding initiated when a person or business cannot repay outstanding debts or obligations. It offers a fresh start for people who can no longer afford to pay their bills.