Bankrupt crypto lender BlockFi announced that it had received conditional approval for its disclosure statement from the United States Bankruptcy Court of New Jersey, according to an Aug. 2 press statement jointly issued with its Official Committee of Unsecured Creditors.
As per the press statement, the lender’s creditors must vote on the Chapter 11 Plan before the Sept. 11 deadline. The plan would help the bankrupt firm resolve all its cases and also allow it to refund clients.
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