On November 10th that crypto lending platform Celsius officially tweeted that it had filed a petition today asking the court to approve the extension of the exclusivity period for the restructuring plan.
This will allow Celsius to spend more time developing the refactoring plan. They says significant progress has been made in determining the way forward to maximize value, but this important work is complex and must be as rigorous and thorough as possible for the benefit of all parties involved.
The company still has important legal issues and issues that need to be resolved before a conclusion is reached. Any disruption could undermine the common goal of all parties in this case.
Previously, Celsius’s bidding process plan was approved by a US federal judge to sell the property before the end of the year. A final bid deadline has been set for December 12, and if necessary, an auction will be held on December 15.
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