U.S. Watchdogs Seek Takeover Of Bankrupt Cryptocurrency Firm Cred

By December 7, 2020 No Comments

Justice Department bankruptcy watchdogs are seeking the appointment of a chapter 11 trustee to wrest control of cryptocurrency platform Cred Inc. and investigate its collapse.

The U.S. Trustee, the Justice Department division overseeing U.S. bankruptcy courts, said on Friday that an independent trustee or examiner should be installed to “untangle the mess” at Cred, which filed for chapter 11 protection last month. The request will go before the judge overseeing Cred’s affairs in the U.S. Bankruptcy Court in Wilmington, Del.

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