The official committee of unsecured creditors of the cryptocurrency lending company Celsius expressed on Friday (12th) on the X platform that, according to court documents, Celsius debtors have updated the frequently asked questions regarding debt repayment distribution and will provide weekly updates before the effective date.
According to the updated frequently asked questions by Celsius, the company will pay debts to creditors residing in the United States through PayPal, and repayments to creditors outside the United States through the Coinbase exchange (as long as Coinbase supports that country). Celsius’ cryptocurrency repayments are expected to begin shortly after the planned effective date of January 31st, and the allocation of MiningCo’s equity is also expected to take place at the same time.
Celsius further explained that if creditors reside in the countries listed on the Celsius FAQ page, the company will attempt to repay these creditors through Coinbase, so creditors should create a Coinbase account that matches their Celsius account information. If creditors are unable to receive allocations through Coinbase for any reason, Celsius will distribute repayments to such creditors in the form of US dollars.
Although Taiwan is included in the list by Celsius (which may be subject to change), Taiwanese users may not be able to claim their debts through the above-mentioned methods as Taiwan is no longer within the service scope of Coinbase.
Regarding creditors whose Coinbase accounts are restricted/blocked, Celsius stated:
Related reports: “Celsius creditors beware! Users who withdrew over 100,000 euros within 90 days before bankruptcy will face clawbacks” and “Judge approves Celsius’ restructuring plan to transform into a Bitcoin mining enterprise.”
