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. June 27, 2023

    Celsius Looks To Dodge Trial With $25M Creditor Settlement

    Bankrupt crypto lender Celsius Network, its unsecured creditors committee and its shareholders have reached a settlement that would see the estate pay $25 million in cash to its preferred shareholders and release the shareholders from further claims and liabilities to resolve disputes and negate the need for an upcoming trial.

  2. May 25, 2023

    Celsius To Convert Assets To Fahrenheit In Ch. 11 Sale

    Bankrupt cryptocurrency lending platform Celsius Network announced the end of its monthlong Chapter 11 auction Thursday, saying crypto consortium Fahrenheit LLC had made the best offer to acquire the debtor's assets and take over operating its business.

  3. May 17, 2023

    Celsius Says Ch. 11 Auction Producing Competitive Bids

    Attorneys for bankrupt cryptocurrency lending platform Celsius Network said Wednesday that its Chapter 11 asset auction remains ongoing as three qualified bidders continue to compete for the acquisition of the company's assets.

  4. April 18, 2023

    Celsius Creditors Get OK To Seek Cert. For Class Claims

    A New York bankruptcy judge Tuesday gave the unsecured creditors committee in the Celsius Network Chapter 11 case permission to seek to file a class action claim on behalf of customers alleging they opened Celsius accounts based on false statements.

  5. 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.

  6. 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.

  7. 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.

  8. 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.

  9. 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.

  10. 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.