Celsius's situation may need another set of eyes 👀
As if the Celsius bankruptcy case could not get any messier, U.S. government officials requested the appointment of an independent examiner.published on Thursday, the examiner would look into the company's financials and aim to resolve the "significant transparency issues" Celsius is experiencing.
An independent examiner is necessary here to investigate and report in a clear and understandable way on the Debtors' business model, their operations, their investments, their lending transactions, and the nature of the customer accounts to ensure public confidence in the integrity of the bankruptcy system and to neutralize the inherent distrust creditors and parties in interest have in the Debtors.
Moreover, the "extreme financial irregularities" in the bankruptcy case warrant "the appointment of an independent and disinterested examiner in the best interests of creditors, equity security holders, and the bankruptcy estates." A Twitter account created by unsecured Celsius creditors rebutted the need for such an independent examination, saying it would incur costs at the wrong time:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Trustee motions for examiner to probe Celsius’ ‘significant transparency issues’The US Trustee behind Celsius' bankruptcy matters has filed a motion for an independent examiner with broad investigative powers, citing “credible allegations of incompetence or gross mismanagement.”
Read more »
DOJ Calls for Independent Examiner in Celsius Bankruptcy CaseThe U.S. Trustee office overseeing Celsius' bankruptcy proceedings has asked that an independent examiner be appointed to look into the crypto lender's collapse into bankruptcy. Hodder Law Firm Founder Sasha Hodder discusses the legal implications of the Celsius case and the potential concerns with CEO Alex Mashinsky. Plus, her take on sanctioned crypto mixer Tornado Cash.
Read more »
Crypto Lender Celsius' Collapse Into Bankruptcy Should Be Probed, US SaysJUST IN: An office in the U.S Department of Justice has asked a federal court to allow it to appoint an independent examiner to investigate Celsius Network and its financials. nikhileshde reports
Read more »
Financial Times: Celsius CEO Mashinsky Traded Company Bitcoin Personally | CoinMarketCapThe troubled crypto lender may have not been helped by its CEO's trading decisions, according to a Financial Times report 😶
Read more »