Bankrupt crypto lender Celsius will soon get an independent review
A win for Withhold and Custody account holders would be for Glenn to order the return of their funds, with no preference action — meaning a claim can't be made on those funds later.There was the issue of Celsius executives withdrawing funds from the platform before the crypto lender filed for bankruptcy in July. The idea was raised of clawbacks for assets in question, while another person wanted to discuss a recently filed objection.
Glenn pointed his opening question during Celsius' Friday hearing at the news, asking whether newly named CEO Chris Ferraro withdrew any assets from the platform in the 90 days before the bankruptcy filing; legal representation for Celsius said he had not.Published financial documents showed Celsius' top brass collectively withdrew some $18 million in digital assets before filing for bankruptcy in July.
Goldstein's legal representation tells Axios that his situation differed materially from most published reports when considering that he also made deposits on the platform in the same weeks leading up to the filing.An individual unsecured creditor asked the judge why the Court hadn't already clawed back assets that were withdrawn by Mashinsky.The big picture:
The scope of Pillay's analysis has been predetermined, but her report will shed light on how accounts were created and how assets within them were moved — details that could determine who has claim to them.Some of the issues Pillay's report will touch on will also be concurrently analyzed by other interested parties, who can ultimately disagree with the independent examiner's findings.
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