BlockFi Inc. and its affiliates announced that the United States Bankruptcy Court for the District of New Jersey conditionally approved the company’s Disclosure Statement on August 2, 2023. The approval is part of BlockFi’s Chapter 11 Plan, aimed at maximizing recovery for clients and ensuring the quickest possible distributions.
The plan, recommended by both BlockFi and the Official Committee of Unsecured Creditors, is set to bring the Chapter 11 cases to a fair conclusion, returning client funds as quickly as possible. All parties entitled to vote on the plan must do so by the September 11, 2023, voting deadline.
Mark Renzi of Berkeley Research Group, BlockFi’s Chief Restructuring Officer, stated, “BlockFi’s mission through this process has been to maximize recoveries for our creditors, and conditional approval of our Disclosure Statement moves us one step closer to accomplishing that goal.”
The plan includes provisions for…
