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Celsius filed a motion on Dec. 30, 2022, to extend the Bar Date — the deadline for all customers to file a claim.
The hearing will be held remotely via Zoom for Government on Jan. 10, at 11:00 am ET.
Parties that wish to appear at the hearing must make an electronic appearance through the court’s website by 4:00pm ET on Jan. 9.
Celsius filed the motion under the Chapter 11 bankruptcy case of Celsius Network LLC and its affiliated debtors.
In light of the roughly $53 million spent on ‘administration expenses’ through the bankruptcy case, multiple users expressed concern in the Twitter thread announcement.
User concerns included fear of funds being wasted and “lawyers procrastinating for profit.”
With this extension filed, users can expect to now wait longer before being given the opportunity to recover funds held in Celsius.
Journalist at CryptoSlate
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