Celsius’ Motion for Allocation of Bar Date Gets Approved

The bankruptcy court, which is presiding over the case of Celsius, has approved the troubled crypto exchange’s motion for the allocation of the bar date. As per the exchange, the respective date will be considered the deadline for the entirety of the consumers who would submit a claim. 3rd January of the next year has been declared as the bard date. The exchange shared a thread of Twitter posts while remarking on this news. Earlier Catcoin/news had posted that Celsius has filled for a bar date.

Bankruptcy Court Approves the Motion for Bar Date’s Allocation₧

It added that the platform would guarantee that the consumers get a notice dealing with the bar date as well as the impending moves related to the proofs-of-claim procedure from Stretto. Stretto is the venue’s claims that would notify through physical mail or email in the case of the users with an address mentioned on their file. According to Celsius, a notification would also be provided on the Celius app of the platform.

The exchange additionally disclosed that the other clients, who give consent to their claims’ scheduling by Celsius in line with the Schedules of Assets and Liabilities, are not required to submit any proof-of-claim. As the exchange puts it, they do not even need to take any further action in this regard. In the other posts, Celsius specified the sources from where the consumers can have information related to the proofs-of-claim procedure.

In this respect, a video was also posted by the bankrupt crypto exchange to offer comprehensive details to the users. Apart from that, the venue provided a link to the official web portal of Stretto for additional information to answer potential queries from the consumers. The platform moved on to reveal that they would keep on keenly observing the atmosphere throughout the crypto industry.

Celsius to Discuss Withhold and Custody Accounts in the Next Hearing₧

In the words of Celsius, this move is being taken by the crypto venue as an opportunity by which it can make sure that the security, as well as the data of the customers, are both maintained by the exchange. It expressed great confidence in prioritizing these things in the future also. The last tweet in the thread brought to the front that the next hearing of Celsius is to take place on the 5th of the upcoming month. In the respective hearing, the platform intends to further the discussions regarding Withhold and Custody accounts and some other things.