BlockFi files expedited sale procedures with February bid deadlines
BlockFi moved from stabilization into an active sale process by asking the court to approve bidding procedures for a sale of equity and/or assets, authorize stalking-horse protections including a breakup fee capped at 3%, and lock in an accelerated timetable. The motion set a January 24 indication-of-interest deadline, a January 30 bidding-procedures hearing, a February 13 bid deadline, a February 17 auction if needed, and a March 13 sale hearing. Moelis said it was marketing the platform, operations, finances, and material contracts to roughly 106 strategic and financial counterparties. source filing
The same filing paired that sale track with a plan track, proposing an April 10 disclosure statement filing, a May 8 disclosure statement hearing, and a June 19 confirmation hearing. For restructuring professionals, this was the first concrete timetable for whether BlockFi would monetize the business through a court-run sale process or pivot into a plan-based exit, making the January hearing schedule meaningful because it put hard dates around the case's next value-maximization path. source filing