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. 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.

  2. 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.

  3. 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.

  4. 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.

  5. February 07, 2023

    Celsius Borrowers Seek Return Of Crypto Collateral

    A group of Celsius Network retail borrowers on Tuesday accused the bankrupt cryptocurrency platform of breaching their loan agreements by not allowing them to retrieve their crypto collateral and asked a New York bankruptcy judge to order the company to turn it over.

  6. February 06, 2023

    Celsius Shareholders Seek Shield From Customer Claims

    Shareholders of a Celsius Network affiliate Monday argued to a New York bankruptcy judge that the cryptocurrency platform's customer service agreements insulate the affiliate's assets from customer claims in the company's Chapter 11.

  7. 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.

  8. 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.

  9. 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.

  10. 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.