The Treatment of Cryptocurrency Assets in Bankruptcy
By Steven O. Weise, Wai L. Choy & Vincent Indelicato, Partners, Proskauer Rose LLP
The continuing effects of the COVID-19 pandemic, the war in Ukraine, worsening inflation, and fears of a recession have roiled the world economy this year. The cryptocurrency market has not been immune to these forces and has experienced significant liquidity events, accelerating an industrywide...
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Vincent Indelicato is a partner in Proskauer Rose LLP’s Business Solutions, Governance, Restructuring & Bankruptcy, and Private Credit Restructuring Groups. His practice focuses on corporate restructurings, with an emphasis on the representation of direct lenders, ad hoc groups, bond holders, and creditors’ committees, both out of court and in Chapter 11. Indelicato is frequently consulted by leading distressed hedge funds, BDCs, private credit lenders, and private equity investors on complex domestic and international insolvency and restructuring issues.
Wai Choy is a partner in Proskauer Rose LLP’s Technology, Media & Telecommunications Group, Blockchain Group, Life Sciences Group, and Privacy & Cybersecurity Group. He has deep expertise in technology, media, outsourcing, and intellectual property-related transactions and counseling. Choy is recognized as a trusted advisor to clients at various stages in their development and across industries, including technology, entertainment, media, asset management, financial services, e-commerce, life sciences, sports, healthcare, and advertising.
Steven O. Weise is a partner in Proskauer Rose LLP’s Corporate Department and practices in all areas of commercial law. His experience in financing is extensive, especially in those secured by personal property, including structured financing. Weise is a member of the Drafting Committee for revisions to the Uniform Commercial Code for transactions in digital currencies, including cryptocurrencies; the Permanent Editorial Board for the Uniform Commercial Code; and the Council of the American Law Institute.
