Celsius bankruptcy judge greenlights independent reviewer's investigation
Following a motion in August, U.S. Bankruptcy Judge Martin Glenn approved a request to appoint an examiner in the Celsius case .
New
A federal judge overseeing the bankruptcy case of cryptocurrency lender Celsius has granted the green light to the motion to appoint an independent reviewer to investigate certain aspects of Celsius' business.
In an order dated Wednesday from the United States Bankruptcy Court for the Southern District of New York, the order notes that the examiner's investigation will focus on Celsius's digital assets, payment procedures for taxes and the current state of its mining business after the calls. for more transparency.
The Examiner will also examine why there was a change in account offerings in April, resulting in some Earn Program clients being moved to Custody Services while others were moved to an "Earn Account". restraint".
The US trustee previously referred to a lack of transparency around these accounts, with customers not knowing who owns which account and why. This may be significant given that Celsius had asked the court to return the assets to "custody clients", but not to its "earn and borrow" clients.
A motion to appoint a reviewer originally stemmed from an August 18 filing by the U.S. trustee handling Celsius's bankruptcy proceedings, citing "significant transparency issues" regarding Celsius' business operations.
Following a motion in August, U.S. Bankruptcy Judge Martin Glenn approved a request to appoint an examiner in the Celsius case .
New
A federal judge overseeing the bankruptcy case of cryptocurrency lender Celsius has granted the green light to the motion to appoint an independent reviewer to investigate certain aspects of Celsius' business.
In an order dated Wednesday from the United States Bankruptcy Court for the Southern District of New York, the order notes that the examiner's investigation will focus on Celsius's digital assets, payment procedures for taxes and the current state of its mining business after the calls. for more transparency.
The Examiner will also examine why there was a change in account offerings in April, resulting in some Earn Program clients being moved to Custody Services while others were moved to an "Earn Account". restraint".
The US trustee previously referred to a lack of transparency around these accounts, with customers not knowing who owns which account and why. This may be significant given that Celsius had asked the court to return the assets to "custody clients", but not to its "earn and borrow" clients.
A motion to appoint a reviewer originally stemmed from an August 18 filing by the U.S. trustee handling Celsius's bankruptcy proceedings, citing "significant transparency issues" regarding Celsius' business operations.
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