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Celsius Network LLC

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Case overview

Case Number:

1:22-bk-10964

Court:

New York Southern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. January 31, 2023

    Celsius Examiner Details 'Ponzi-Like' Scheme At Crypto Co.

    Bankrupt cryptocurrency platform Celsius Network Ltd. propped itself up using customer funds in order to turn around and pay off obligations to other clients in a scheme that one employee described as "very Ponzi like," according to a report released by a court-appointed examiner Tuesday.

  2. January 26, 2023

    Celsius Can Return Institutional Loan Collateral In Ch. 11

    A New York judge ruled Thursday that bankrupt cryptocurrency platform Celsius Network LLC can handle $115 million in institutional loans in the ordinary course of business, including returning loan collateral.

  3. January 24, 2023

    Celsius Proposes Novel Ch. 11 Plans For Creditor Recovery

    Bankrupt cryptocurrency platform Celsius Network told a New York judge Tuesday that it is moving toward a Chapter 11 plan that would create a new entity to manage its digital assets for the benefit of its customer creditors.

  4. January 24, 2023

    Celsius Denied Permission For Late Claim In Voyager Ch. 11

    A New York bankruptcy judge Tuesday denied bankrupt cryptocurrency lender Celsius Network permission to file a claim in the Chapter 11 case of cryptocurrency platform Voyager Digital Holdings, saying Celsius' excuses for missing the claims deadline didn't pass muster.

  5. January 20, 2023

    Voyager Can't Seal Celsius Agreement In Bankruptcy Case

    A New York federal bankruptcy judge on Friday denied a bid by the bankrupt cryptocurrency platform Voyager Digital Holdings to file under seal a past agreement with bankrupt cryptocurrency lender Celsius, but allowed it to take another shot at its bid.

  6. January 18, 2023

    Celsius Slaps VC Investor With $6M Breach Of Contract Suit

    Bankrupt cryptocurrency lender Celsius hit Fabric Ventures Group with a breach of contract suit in New York federal court on Tuesday, claiming the former investor missed $6 million in commitments in the months before Celsius filed for bankruptcy.

  7. January 04, 2023

    Celsius Owns Crypto Deposits, May Sell $18M, Judge Says

    The cryptocurrency that Celsius Network LLC account holders deposited into Earn program accounts before the crypto-lending company filed for Chapter 11 belongs to Celsius, and it may sell $18 million worth of those assets to keep funding its bankruptcy, a New York bankruptcy judge ruled Wednesday.

  8. December 22, 2022

    Insurers Slam Scouts Plan; FTX To Start Clawback Actions

    Insurers who didn't sign on to the Chapter 11 plan of the Boy Scouts of America slammed the $2.5 billion settlement trust in an appellate briefing, cryptocurrency exchange FTX said it will begin seeking clawback of prepetition distributions, and cosmetics giant Revlon Inc. reached a deal with creditors for a Chapter 11 plan. This is the week in bankruptcy.

  9. December 20, 2022

    Celsius Says It Will Have Sale Or Reorg Plan By Mid-January

    Cryptocurrency platform Celsius Network told a New York bankruptcy judge Tuesday that it's working with potential asset buyers and on developing a restructuring plan, and should be able to say which way its Chapter 11 case will go by mid-January.

  10. December 13, 2022

    Celsius Bonus Plan Gets OK Over US Trustee Objection

    A New York bankruptcy judge Tuesday gave Celsius Network the go-ahead to pay $2.8 million in retention bonuses, overriding arguments by the U.S. Trustee's Office that the cryptocurrency platform's request was too short on details.

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