Troubled crypto lender BlockFi intends to file both its schedules of assets and liabilities and its statement of financial affairs with the court on January 11, 2023.
The filings list BlockFi’s assets and liabilities as well as some payments the company made to insiders and other parties before declaring bankruptcy.
Also Read: Crypto Lender BlockFi files for Bankruptcy, cites FTX Exposure
BlockFi also filed a presentation that provides all stakeholders with crucial historical information and context about the bankruptcy proceedings and related necessary filings.
BlockFi clients will get more information about the claims process and filing of Proof of Claims when it is time, no deadlines have yet been established for the same.
BlockFi is eager to keep the lines of communication open with the UCC, the U.S. Trustee, and all parties involved in its chapter 11 proceedings.
After its initial bankruptcy hearing in November, BlockFi reportedly contacted 106 prospective purchasers. On January 30, the company will request court clearance for the bidding process.
BlockFi also stated that after receiving a $400 million revolving credit line from FTX US in July, it had increased base salaries and made retention payments for a select group of staff.
Last month, BlockFi filed a motion to let clients access frozen crypto assets outside of its ‘BlockFi Interest Accounts,’ which compensates investors for lending their cryptocurrency back to the business.
