Cryptocurrency

Celsius files motion to extend the Bar Date

Hull Invest

Celsius has filed a motion to extend the verdate, the deadline for all customers to submit claims, on December 30, 2022.

The hearing will be held remotely via Zoom for Government on January 10 at 11:00 AM ET.

Parties wishing to attend the hearing must attend electronically via the Court’s website by 4:00 pm ET on January 9.

Celsius has filed a Chapter 11 bankruptcy claim against Celsius Network LLC and its related debtors.

Multiple users expressed concern considering about $53 million spent in “administrative costs” through the bankruptcy case Twitter thread announcement.

User concerns included fear of wasted funds and “lawyers procrastinating for profit.”

This extension application will allow users to wait longer before being given the opportunity to withdraw their funds held in Celsius.

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