Tag: CEL
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KeyFi Founder and Team Face Restraints on Property in Celsius Bankruptcy Case
As the US announces plans to sell 26 million barrels of crude, oil futures fall. Following the announcement that the US government will move on with its plan to sell an additional 26 million barrels of crude oil from the Strategic Petroleum Reserve, oil futures prices fell on Tuesday. In order to honor its promise […]
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Borrowers, creditors, and US Trustee protest the postponement of the restructuring plan at Celsius
The debtors’ action, which has drawn condemnation from the unsecured committee of creditors and other parties involved in the bankruptcy case of crypto lending business Celsius, has resulted in the suspension of the reconstruction plan. The move to prolong the term of exclusivity for a Chapter 11 restructuring plan from February 15 to March 31 […]
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Celsius Bankruptcy Extension Request Met with Objections by Involved Parties
Arguments Made Against Celsius’s Bankruptcy Extension People involved in the Celsius bankruptcy case have objected to the former crypto lender’s most recent move to postpone an important date. Since it filed for Chapter 11 bankruptcy in July 2022, the lender has been given the only authority to suggest a restructuring plan. Extension granted in the […]
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The US trustee and creditors rejected Celsius’ plea for an extension, and cash is still being burned.
The proposal by insolvent crypto lender Celsius to once more extend the deadline for submitting a Chapter 11 reorganization plan has drawn opposition from a number of stakeholders. The crypto lender, who formally requested Chapter 11 bankruptcy protection in July 2022, submitted a motion on January 25 to extend its exclusivity period, or the time […]