Or close a loan with USD/stable coins to free up

Question

Or close a loan with USD/stable coins to free up

the collateral now after the bankruptcy filing date. I.e. if we close a loan now, will the collateral that is immediately freed up in the app be recoverable to us long term (if there is a recovery)? Or is that collateral gone forever since it wasn’t freed up before the date of the bankruptcy filing? Clearly, the court proceedings need to definitively clarify this issue.

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16.07.2022

11 ответов

27 просмотров

George

You are right. We need to highlight this matter

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16.07.2022

Liam

Celsius paid off the money before filing for bankruptcy and got the collateral back. Why can't we get our collateral back even after we pay it back?

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16.07.2022

Don Crypto

Liam
Celsius paid off the money before filing for bankr...

Because they liquidated user assets at a discount to pay off those loans. And they are required to pay back their secured creditors first and foremost. Most big companies operate deep in debt.

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16.07.2022

Irina Dukhon

Don Crypto
Because they liquidated user assets at a discount ...

I don’t think Celsius disclosed everything still. Seems like there will be more bad news 😔🥲

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16.07.2022

Adam

Liam
Celsius paid off the money before filing for bankr...

Because there's a hole and they havn't got enough assets to lay us back

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16.07.2022

Ph

Irina Dukhon
I don’t think Celsius disclosed everything still. ...

marked

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16.07.2022

cryptolemy

As an accountant I consider a loan a liability untill it is paid. If collateral is securing the loan, the collateral is an asset, untill the loan is paid, but is never considered a liability because it's returned only when the loan is paid. It's a bit of schrodingers cat if you will, but having a loan fully collateralized is certainly an asset compared to being an unsecured creditor sucker.

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16.07.2022

Maximus

cryptolemy
As an accountant I consider a loan a liability un...

If I have collateral securing a loan what does that make me? An unsecured creditor or what am I?

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16.07.2022

M Garcia

Maximus
If I have collateral securing a loan what does tha...

Youre screwed.

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16.07.2022