The US Bankruptcy Court for the District of Delaware approved Monday the amended Chapter 11 liquidation plan for Bittrex and its associated entities, including Desolation Holdings LLC.
Despite the procedural rigor behind the ruling, questions remain as the court-approved decision moves the Seattle-based company toward liquidating its assets to repay creditors.
Bittrex filed for Chapter 11 bankruptcy relief in the US in May. Rather than reorganizing its debts, which is often the objective of Chapter 11 filings, the company elected a plan of liquidation.
With the green light from the court, Bittrex is now authorized to proceed with the selling off of its US-based assets, per a court…
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