Celsius Creditors voted in favor of reorganization planning
The creditors involved in the
Celsius Bankruptcy case have voted in favor of a scheme through which they will be refunded. With this, equity distribution will be done through a new company. According to the filing of the bankerpse firm Stretto, most classes have voted more than 98% in favor of reorganization planning. However, the voters have almost taken a decision on this scheme. But the plan will still need a final approval in the
US Bankruptcy Court for the Southern District of New York by 2 October. At the same time, this new scheme will do equity distribution in a new company, which will be temporarily called Newco.
