Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result
Home General News

Bankrupt Crypto Lender Celsius Seeks Extension Of Deadline

Hania by Hania
December 29, 2022
in General News
Reading Time: 3 mins read
A A
0
Celsius Bankruptcy Update: Creditors Overwhelmingly Back Reorganization Plan
Share on FacebookShare on Twitter
ADVERTISEMENT

The current set date for the bar is January 3.

Celsius Network, a cryptocurrency lender, announced that it is reportedly prepared to file a motion asking for a one-month extension of the deadline for consumers to submit their claims.

According to Celsius’ most recent report, the bankruptcy court will hear the motion on January 10. Thereafter at least, the deadline will be extended.

“An extension of the deadline is currently in effect until the Court hears the motion. As soon as there are any new developments about the bar date, we will let you know.

You May AlsoLike

North Korean Hackers’ Crypto Theft Strategy Exposed

North Korean Hackers’ Crypto Theft Strategy Exposed

November 27, 2023
Court Upholds Sam Bankman-Fried’s Detention: Witness Tampering Allegations Persist

Court Upholds Sam Bankman-Fried’s Detention: Witness Tampering Allegations Persist

November 23, 2023

Bankrupt Crypto Lender Celsius Seeks Extension Of Deadline

  • Following the collapse of the Terra ecosystem tokens, Celsius filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the Southern District of New York in July.
  • The company’s balance sheet showed liabilities totalling $2.8 billion, according to the court document submitted by consulting firm Kirkland & Ellis.
  • A deadline extension until the middle of February was also given to Celsius for submitting the Chapter 11 restructuring plan.
  • At the same time, Martin Glenn, a bankruptcy judge, ordered the insolvent cryptocurrency lender to repay almost $44 million to clients who weren’t a part of its yield-bearing accounts.
  • Owners of Celsius accounts have gone to social media to express their outrage with People on Twitter who have complained about the prices and delayed progress.

Lawyers & advisors like to spend client money just as much as @Mashinsky #Celsius & @SBF_FTX #FTX – All they need is good old Chapter 11 protection & magically it becomes legal. pic.twitter.com/G7cFzIb61z

— Simon Dixon (@SimonDixonTwitt) December 28, 2022

  • Financial Times has reported that expenses are mounting for law firms connected to a number of crypto businesses that have fallen victim to the ongoing crypto winter.
  • In the Celsius case, the attorneys, bankers, and other advisers filed detailed fee claims to the New York federal bankruptcy court amounting to $53 million.
  • Kirkland & Ellis and White & Case are involved in Celsius, and their top lawyers are billing over $1,800 per hour, much to the frustration of investors.
Tags: celsius bankruptChapter 11 restructuring planCryptocurrencies
Share76Tweet47
ADVERTISEMENT
Previous Post

China to launch first national NFT marketplace shortly

Next Post

Crypto Instagram Accounts To Follow In 2023: Top Crypto Influencers

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

North Korean Hackers’ Crypto Theft Strategy Exposed
General News

North Korean Hackers’ Crypto Theft Strategy Exposed

November 27, 2023
Court Upholds Sam Bankman-Fried’s Detention: Witness Tampering Allegations Persist
General News

Court Upholds Sam Bankman-Fried’s Detention: Witness Tampering Allegations Persist

November 23, 2023
Binance Founder CZ's Guilty Plea Accepted by U.S. District Court
General News

Binance CEO CZ Steps Down Following $4.3B Settlement In U.S. Criminal Case

November 22, 2023
Avara Unveils New Identity, Acquires Ethereum’s ‘Family Wallet’
General News

Avara Unveils New Identity, Acquires Ethereum’s ‘Family Wallet’

November 17, 2023
Factors Behind Bitcoin’s Struggle At $37K: Unraveling The Market Dynamics
General News

Factors Behind Bitcoin’s Struggle At $37K: Unraveling The Market Dynamics

November 15, 2023
Digital Gold vs. Bitcoin: A Comparative Outlook
General News

Digital Gold vs. Bitcoin: A Comparative Outlook

November 15, 2023
Next Post
Crypto Instagram Accounts To Follow In 2023: Top Crypto Influencers

Crypto Instagram Accounts To Follow In 2023: Top Crypto Influencers

Discussion about this post

Live Prices

Stay Connected

You May Also Like

  • Binance Shuts Down Major Liquidity Pools: What This Means For Crypto Traders

    Binance Shuts Down Major Liquidity Pools: What This Means For Crypto Traders

    198 shares
    Share 79 Tweet 50
  • Decoding XRP’s December Price Patterns: A Potential 82% Surge Amidst Historical Complexities

    194 shares
    Share 78 Tweet 49
  • Top Picks Of 2023: Web3 Games Shaping The Future Of Gaming

    194 shares
    Share 78 Tweet 49
  • SEC Chair Gensler’s X Post Fuels Speculation Of Spot Bitcoin ETF Approval

    194 shares
    Share 78 Tweet 49
  • Exploring Cardano’s Potential: Key Price Projections For ADA By 2025

    193 shares
    Share 77 Tweet 48
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2023 CryptoMufasa - All Rights Reserved!

No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2023 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.