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Mealeys

MLex

Celsius Network LLC, et al.

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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. November 13, 2024

    Crypto Platform Celsius Reports $92M In Litigation Recoveries

    Representatives of the Chapter 11 estate of cryptocurrency company Celsius Network on Wednesday told a New York bankruptcy judge they recovered $92 million in litigation proceeds in the third quarter and are approaching full distributions to customers.

  2. November 12, 2024

    Celsius Judge Rejects Pro Se Creditor's $206,000 Fee Bid

    The woman who chaired an ad hoc committee of corporate creditors in Celsius Network's Chapter 11 case lost her bid Tuesday to be paid $206,300 for her work, with a New York bankruptcy judge denying her application after finding that her efforts were primarily self-interested and potentially duplicative.

  3. October 08, 2024

    Celsius Says It Sent Out $2.6B To Creditors In Crypto, Cash

    Celsius Network reported that the reorganized debtor has now distributed a total of $2.57 billion to creditors and customers in both cash and cryptocurrency, meaning more than two-thirds of creditors have received a recovery. 

  4. October 07, 2024

    FTX Wins Plan Approval, Diamond Sports Drops MLB Deals

    FTX will start repaying customers using up to $16.5 billion in assets that the fallen cryptocurrency company has recovered since filing for bankruptcy in November 2022, after a Delaware bankruptcy judge blessed FTX's reorganization plan at a hearing Monday. 

  5. October 03, 2024

    Celsius Corporate Creditors Deal Wins OK From Ch. 11 Judge

    A New York bankruptcy judge on Thursday approved a settlement proposed by reorganized debtor Celsius Network that will provide digital asset recoveries to its corporate creditors, finding the agreement, achieved through mediation, did not modify the company's confirmed Chapter 11 plan.

  6. September 06, 2024

    Celsius' Corporate Creditor Deal Too Late, US Trustee Says

    The U.S. Trustee's Office has urged a New York bankruptcy judge to reject a proposed settlement in which Celsius Network would make distributions to its former corporate customers, saying the debtor already consummated a Chapter 11 plan and is therefore no longer able to amend the allocation of funds.

  7. August 27, 2024

    Celsius Says It Has Returned 93% Of Customer Assets

    Celsius Network on Tuesday told a New York bankruptcy judge it has distributed more than $2.5 billion of its former customers' assets in its Chapter 11 case, approximately 93% of the amount it owes ex-customers under its plan.

  8. August 14, 2024

    Celsius Ex-Customers Balk At Clawback Mediation

    A group of ex-customers of the defunct Celsius Network cryptocurrency platform have told a New York bankruptcy judge they are being unfairly asked to pay for mandatory mediation of attempts to claw back their withdrawals from the platform.

  9. August 12, 2024

    Byju's Dodges Dismissal, Crypto Updates, SunPower Filing

    The U.S.-based affiliate of Indian educational technology giant Byju's avoided the dismissal of its Chapter 11 case in Delaware, a subpoena for cellphone records from former bankruptcy judge David R. Jones was quashed, and a $2 billion bankruptcy from a residential solar technology company was filed. This is the week in bankruptcy

  10. August 12, 2024

    Celsius Sues Tether For Over $2B In Ch. 11 Clawbacks

    The defunct cryptocurrency platform Celsius Network has sued the largest stablecoin provider, Tether, seeking to claw back more than $2.3 billion worth of bitcoin and accusing Tether of improperly reaping the benefits of the digital coins for itself as Celsius was spiraling towards bankruptcy.