Reliz Technology Group Holdings is now in solicitation on an amended Chapter 11 plan after the court approved the disclosure statement and set a July 1, 2026 voting and objection deadline, with confirmation scheduled for July 13, 2026 at 10:00 a.m. ET under the Disclosure Statement OrderDkt. 388 and related Confirmation Hearing NoticeDkt. 393. The current path is no longer a stand-alone rescue: the amended plan and solicitation materials center on a sale of substantially all operating assets to Keyrock S.A. for up to $3.25 million, with remaining assets and causes of action moving into a GUC Trust for creditor recoveries under the Amended Disclosure StatementDkt. 392.
The case began on March 15, 2026, when BlockFills filed Chapter 11 in Delaware after liquidity and balance-sheet pressure from digital-asset counterparty failures, litigation constraints, a February 2026 crypto market shock, and roughly $145 million of general unsecured debt against a business that served institutional crypto trading, OTC, derivatives, lending, settlement, and mining customers through its Vision Trader platform. The first-day Renzi declaration identified tied-up Babel Finance exposure, a Nexo settlement obligation, an unpaid Celsius arbitration award, customer actions with temporary restraining orders, and suspended deposits and withdrawals as the fact pattern leading into the filing, while the petition listed $100 million to $500 million in both assets and liabilities and 200 to 999 creditors in the and .
Liquidity was managed through cash-collateral relief rather than new-money DIP financing. The debtors sought authority to use cash collateral securing Celsius’s prepetition promissory-note position, asserting Celsius was oversecured and that cash and cryptocurrency collateral were the estates’ only practical source of operating liquidity, and the court later authorized up to $5 million of interim cash-collateral use with replacement liens, a section 507(b) superpriority claim, weekly reporting, and protections for challenges to the secured position in the Cash Collateral MotionDkt. 16 and Second Interim Cash Collateral OrderDkt. 119. By mid-April, the cash-collateral fight had broadened into objections from the Committee and other parties over the proposed next interim order, including the debtors’ position that expanded collateral use and waivers were part of a negotiated resolution with Celsius needed to continue funding the cases, as reflected in the Cash Collateral Reply MotionDkt. 192.
The plan architecture evolved from an April customer-led NewCo or alternative-transaction framework into the current amended plan: a non-consolidated wind-down funded by cash, cryptocurrency, asset-sale proceeds, retained causes of action, and a GUC Trust reserve, with convenience claims receiving a dedicated recovery pool, general unsecured creditors voting by debtor entity, existing equity cancelled, and cryptocurrency or non-USD claims valued in U.S. dollars as of the petition date under the Initial Joint Chapter 11 PlanDkt. 128 and Amended Joint Chapter 11 PlanDkt. 391. The near-term calendar is procedural but value-critical: sale approval is targeted for June 16, the plan supplement is due June 24, ballots and plan objections are due July 1, and the case’s next major gating event is the July 13 confirmation hearing.