Bankrupt crypto lender Celsius Network said on Thursday that it has filed a motion to extend the exclusivity period for its reorganization plan, allowing the lender to take more time to work on that plan.

Celsius is facing a slew of lawsuits in addition to its bankruptcy proceedings. A recent motion pitted the shareholders of the firm against its customers over who gets preference over the beleaguered lender’s assets and repayment.

A judge also temporarily denied Celsius from paying certain employees a retention bonus, payments which would have totaled nearly $3 million. The plan, which Celsius’ lawyers claimed was necessary to keep the company’s employees from jumping ship, would divide the approximately $3 million in requested funds into cash bonuses for 62 of the company’s current 274 employees.

Free legal advice

As we already mentioned in our previous HotNews article, the conduct of Celsius company has elements of criminal liability.

Celsius and its big partners and associates are accusing each other and bringing the charges forward. What about the small investors? They are likely to be left out of the compensation scheme.

Don’t hesitate to contact us if you want to report your claim through our DefendMe Global platform.

Attorney at law

Zoran Miljakovic