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:

April 14, 2023
US Trustee Objects To $2.8M In Celsius Ch. 11 Exec Bonuses

Calling it a "pay-to-stay" retention plan, the U.S. Trustee's Office objected Friday to proposed incentive bonuses for insiders of bankrupt cryptocurrency platform Celsius Network that would pay $2.86 million to senior employees.
April 13, 2023
Celsius Says Other Bidders Eyeing Bankrupt Crypto Lender

Embattled cryptocurrency lender Celsius Network has notified a New York bankruptcy court that it will file its upcoming disclosure statement for its reorganization later than previously planned to accommodate competing bidders who say they want to top the $45 million offer from the stalking horse bidder.
March 30, 2023
$13M Bid Protection OK'd For Celsius' Ch. 11 Stalking Horse

Bankrupt cryptocurrency lender Celsius Networks secured a New York federal court's approval Thursday for a larger-than-usual, $13 million bid protection covering the offer of stalking horse bidder NovaWulf Digital Management LP.
March 23, 2023
SDNY Judge Seeks Agency Check Of Celsius Ch. 11 Bid Term

A New York bankruptcy judge put off a ruling Thursday on bid protections for cryptocurrency lender Celsius Networks' Chapter 11 stalking horse sale, pending responses next week from state and federal financial regulators regarding their views on its unfinished reorganization and sale plan.
March 21, 2023
Celsius Gets OK For Deal To Return Account Holder Assets

A New York bankruptcy judge on Tuesday approved a deal struck between Celsius Network and the holders of its so-called "Custody" accounts that will allow account holders who settle to begin immediate withdrawals of some of their cryptocurrency.
March 15, 2023
Celsius Ch. 11 Creditors Object To $3M Request For Atty Fees

The unsecured creditors committee in Celsius Network LLC's Chapter 11 case wants a New York bankruptcy judge to bar the collapsed crypto lending firm from paying millions of dollars in legal expenses for more than a dozen current and former employees who are cooperating with numerous investigations into the company's downfall.
March 09, 2023
Judge Says No Contract Claims Against Celsius Affiliates

A New York bankruptcy judge Thursday ruled that, under their terms of use, Celsius Network customers only have contractual claims against one of the cryptocurrency platform's entities, although he left the door open for claims of fraud and other wrongdoing against all Celsius affiliates.
March 08, 2023
Celsius Gets More Time For Exclusive Ch. 11 Plan Rights

Bankrupt cryptocurrency platform Celsius Network LLC received approval Wednesday to extend the period during which it has the exclusive right to file and seek votes for a Chapter 11 plan when a New York bankruptcy judge said the company has made significant progress since commencing its case.
March 01, 2023
Celsius Files Deal To Return Account Holder Assets

Celsius Network is asking a New York bankruptcy judge to approve an offer to its so-called "Custody" account holders for a settlement that will return to them more than 72 cents on the dollar in the cryptocurrency platform's Chapter 11 plan.
February 15, 2023
Celsius Creditors Get 3 Weeks To Look At Ch. 11 Plan Outline

A New York bankruptcy judge Wednesday gave Celsius Network's creditors three weeks to respond to the company's early-morning proposal to hand control of its cryptocurrency platform to an investment firm and ownership of the company to its largest account holders.

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