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Celsius‘ motion to extend timeline for restructuring plan faces objection from creditors

Published 02/09/2023, 02:30 PM
Updated 02/09/2023, 04:00 PM

The unsecured committee of creditors and others involved in crypto lending firm Celsius’ bankruptcy case have objected to a motion from the debtors delaying a reorganization plan.

In separate Feb. 8 court filings, the committee and Withhold account holders as well as the United States Trustee and Celsius borrowers objected to a motion aimed at extending the exclusivity period for a Chapter 11 restructuring plan from Feb. 15 to March 31. Under the proposed extension, Celsius’ debtors would also have the option of soliciting a plan until June 30.

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