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The administrator supervising the bankruptcy of Blockfi’s bankruptcy and the US Ministry of Justice (DO) has reached an agreement to dismiss the crypt of $ 35 million involving the creditor.
The agreement was approved by Judge Michael B. Kaplan from the US bankruptcy court for the New Jersey district on Friday, according to to the court submission.
The lawsuit filed in May 2023 tried to transfer more than $ 35 million in crypto assets from blockfi to the US government. He said that he was guaranteeing seizure of funds from the block of two Estonian citizens in the case of criminal fraud that is not related to bankruptcy blockfi.
At that time, he claimed that the US bankruptcy court for the New Jersey district had no jurisdiction to prevent blockfi from transferring asset. The dispute arose during the blockfi bankruptcy proceedings.
Related: California will cancel the Blockfi lending license 2 years after bankruptcy
Case released with prejudice
According to the provisions on both parties, the case was rejected by prejudice, which means that it cannot be reaffirmed. Each party will carry its own legal fees and costs in the settlement.
Mohsin Meghji, the administrator of the plan for the Windfi estates, in this case represented a crypt company. The Ministry of Justice was represented by the head of the court advisor Seth B. Shapir and his team from the commercial court branch of the Civil Division.
Blockfi announced in May last year Plans to close your web platform In partnership with Coinbase to help clients choose the remaining funds. Elected users, including users with Blockfi interest accounts, retail loans and private client accounts, can use Coinbase for selections.
Company Announced bankruptcy in November 2022 After the collapse of the FTX and then Set the Date of Selection 28 April 2024 to get customers back their cryptometers.
Related: The Blockfi and 3AC settlement agreement gets a judge but remains sealed
Blockfi reaches the settlement with FTX
Blockfi also in March last year has reached a settlement of $ 875 million With FTX and Alamed’s research goods that deal with approximately $ 1 billion. The CEO of the Prince of Prince testified that the FTX founder Sam Banman-Fred’s founder directly caused bankruptcy of the blockfi.
The bankruptcy court approved the Blockfi Chapter 11 plan in September 2023 for repayment of more than 10,000 creditors. Blockfi owes approximately $ 10 billion More than 100,000 creditors, including the main debts of their three best creditors and bankruptcy of the Three Arrows Capital Fund.
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