Share this article
Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars
US Court Approves Deadline for Celsius Customers to File Proofs of Claim
Customers of the bankrupt crypto lender have until Jan. 3, 2023, to file proofs of claim, if Celsius’ scheduling of their claims as filed are incorrect.
A U.S. court has approved collapsed crypto lender Celsius Network's request to set a deadline for customers to file proofs of claim in the ongoing bankruptcy proceedings.
Celsius' motion, approved by U.S. Bankruptcy Court of the Southern District of New York last week, requires customers to submit proofs of claim on or before Jan. 3, 2023. Any person or entity – including individuals, partnerships, corporations, joint ventures and trusts – are free to file a claim via mail, by hand or through the claims agent Stretto's website.
STORY CONTINUES BELOW
Read more: Celsius' Crypto Customers Face Big Obstacle in Trying to Claw Back Their Deposits
Following a liquidity crunch that rattled the industry earlier this year, crypto lending platform Celsius Network filed for bankruptcy in July, just weeks after freezing customer withdrawals. The lender filed for chapter 11 bankruptcy which allows it to reorganize while continuing operations.
Earlier this month, Celsius requested the New York-based court to extend its deadline for submitting the platform's reorganization plan.
Customers of the bankrupt lender do not need to submit a proof of claim if it falls into a number of categories listed in the legal document, including if any claims had already been paid by what remains of the company and if a similar form had already been filed with the clerk of the bankruptcy court in New York.
Celsius shared further instructions on how to file a claim on its official Twitter account on Sunday, and said its next hearing is scheduled for Dec. 5.
CoinDesk has reached out to Celsius for comment.
Read more: Celsius is Owed $12M by Alameda Research, Newest Member of Bankrupt Crypto Club
Sandali Handagama
Sandali Handagama is CoinDesk's deputy managing editor for policy and regulations, EMEA. She is an alumna of Columbia University's graduate school of journalism and has contributed to a variety of publications including The Guardian, Bloomberg, The Nation and Popular Science. Sandali doesn't own any crypto and she tweets as @iamsandali
More For You
Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
Top Stories
