Celsius Seeks To Help Customers Extend Deadline To File Claims

Key Points:

• Celsius wants to delay the deadline for creditors to report the amount they are owed until early February rather than January 3.
• The bankruptcy court handling the issue will hear the application to extend the deadline at a hearing on January 10. The customer claims to have an extension till the hearing.
• According to the crypto lender, its objective is to provide account holders more time to submit any proof of claim. Later this week, the business will submit a motion asking for a postponement of the bar date.

Celsius customers will have an extra deadline to file a claim as the company appears to be trying to get the court to extend the time until February next year.

The deadline for debt to report the amount they are extended from January 3 to early February of the collapse of cryptocurrency lender Celsius.

According to a tweet Celsius sent on Wednesday, the application to extend the deadline will be heard by the bankruptcy court handling the issue at a hearing on January 10.

The deadline for customer claims is, at the very least, postponed until the hearing. The corporation wants to give account holders more time to provide any supporting documentation. Later this week, it will submit a motion asking for a postponement of the bar date.

Earlier this month, Celsius gained court authority to extend its exclusivity period until February 15, during which time the company did not have to file for bankruptcy.

During a hearing on December 7, the US court ordered Celsius to refund users’ escrow accounts with almost $44 million in cryptocurrency. This sum pales in comparison to the money that is still trapped on users’ platforms.

The company then filed with the court that it was receiving multiple offers to acquire its retail platforms and mining business. Celsius advisors are still considering the acquisition. A decision will be made in mid-January 2023.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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