The Official Committee of Unsecured Creditors in the Celsius bankruptcy case said a proposed sale to NovaWulf Digital Management is “the best” option, according to a new court filing.
Smaller creditors would receive 70% of their money back under the proposed deal, while larger creditors would receive tokenized shares in a new entity managed by NovaWulf. Celsius filed for bankruptcy protection last year and owes billions to its creditors.
“While the committee will consider all options until a plan is confirmed and has become effective, the committee also believes that the NovaWulf Transaction is the best, actionable alternative at this time,” the filing said.
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