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:

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.
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.
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.
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.
December 09, 2022
Celsius To Hold Customer Crypto, Alex Jones' Personal Ch. 11

Celsius Network account holders were told they'll have to wait to get their crypto back, Alex Jones filed for personal bankruptcy, and a dispute over the lease for the former Sears store in the Mall of America reached the U.S. Supreme Court. This is the week in bankruptcy.
December 08, 2022
Celsius Ch. 11 Sale Of Israeli Assets Delayed For More Info

A New York bankruptcy judge reserved judgment Thursday on a proposed $44 million sale of assets by cryptocurrency platform Celsius Network, saying the deal would include potentially valuable causes of action for which the court needed additional information.
December 07, 2022
Celsius Customers Must Wait For Return Of Funds In Ch. 11

A New York bankruptcy judge declined to rule in favor of Celsius Network account holders in their bid to have crypto holdings on the platform released, saying the debtor created the account type in question too close to its bankruptcy filing and clawback actions may be filed in the future.
December 05, 2022
Judge Hears Crypto Ownership Arguments In Celsius Ch. 11

A New York bankruptcy judge on Monday said he will be ruling on whether customers of bankrupt Celsius Network gave up ownership of their cryptocurrency deposits while allowing Celsius to continue to pursue claims that an ex-business partner stole $10 million in assets.
December 02, 2022
U.S. Trustee Says Celsius Bonus Motion Still Missing Info

The U.S. Trustee's Office on Friday objected to Celsius Network's revised request to pay $2.8 million in retention bonuses, saying the cryptocurrency lender's new motion is still short on information and doesn't take the current technology job market into account.
December 02, 2022
Interest Rates Doom Lender, Crypto Winter Persists

Rising interest rates forced a reverse mortgage lender into Chapter 11, cryptocurrency platform BlockFi succumbed to the downfall of exchange FTX Trading, and FTX itself faced calls for an examination of its collapse. This is the week in bankruptcy.

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