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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. August 10, 2022

    Endo Teeters On The Edge, Revlon Equity Committee Sought

    Endo Pharmaceuticals said it is close to filing for bankruptcy over its opioid liability, Revlon shareholders want representation in its Chapter 11 case, and a North Carolina judge said sanctions worked on asbestos claimants in the Bestwall bankruptcy. This is the week in bankruptcy.

  2. August 09, 2022

    Celsius Ch. 11 Committee Probing CEO's 'Empty Promises'

    The official committee of unsecured creditors in the Chapter 11 case of cryptocurrency platform Celsius Network told a New York federal bankruptcy judge late Monday that it's investigating "empty promises" the company's CEO made about the viability of the platform and its ability to honor customers' withdrawals.

  3. August 05, 2022

    Texas Regulators Call Celsius' Plans For Its Crypto Too Risky

    Texas securities regulators asked a New York bankruptcy judge to reject cryptocurrency platform Celsius Network's request for permission to monetize the bitcoin it mines, saying Friday that Celsius should not get "carte blanche" to dispose of its cryptocurrency as it sees fit.

  4. July 21, 2022

    Crypto Dominos Keep Falling, J&J Wants Talc Injunction

    Another cryptocurrency player succumbs to marketwide distress, Johnson & Johnson's bankrupt talc unit seeks a pause of talc suits brought by state attorneys general and a $21 million settlement in the liquidation of defunct law firm LeClairRyan is drawing appeals from the bankruptcy watchdog. This is the week in bankruptcy.

  5. July 18, 2022

    Celsius Says Ch. 11 Is Focused On Reorganization Plans

    Attorneys for bankrupt cryptocurrency platform Celsius Network LLC sought to allay the concerns of its customers during an initial court appearance Monday in New York, saying the debtor intended to reorganize its business and that customers wouldn't be forced to take regular fiat currency as a recovery on their claims.

  6. July 14, 2022

    Celsius CEO Blames Ch. 11 On Crypto Crash, 'Poor Decisions'

    Cryptocurrency platform Celsius Network is seeking Chapter 11 protection with a shortfall of nearly $1.2 billion thanks to the cryptocurrency market downturn and "poor asset deployment decisions," the company's CEO told a New York bankruptcy court Thursday.

  7. July 14, 2022

    Ch. 11 Cheat Sheet: Celsius Network LLC

    Cryptocurrency lending platform Celsius Network LLC became the latest industry player to fall into bankruptcy Thursday, suffering from the marketwide downturn known as "crypto winter" that has led to massive drops in value and unsustainable customer demands for asset withdrawals.