Report: Celsius Seeks Help From Restructuring Lawyers Over Financial Hardship
Following the rumors and speculation surrounding the crypto lending firm Celsius, a Wall Street Journal report, quoting “people familiar with the matter,” explains that the company is reportedly hiring restructuring lawyers. Basically, hiring restructuring and insolvency attorneys is one of the first stages of fixing a company’s financial hardship by essentially attempting to avoid insolvency. Report Says Celsius Is Looking for Help From Investors or a Well Known Restructuring Law Firm On June 13, 2022, Bitcoin.com News reported on the lending platform....
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After the crypto lending platform Celsius halted operations on June 12, at 10:10 p.m. (ET), two days later the Wall Street Journal (WSJ) quoted “people familiar with the matter” who said Celsius was hiring restructuring lawyers. At the time, the WSJ said Celsius was looking to hire the bankruptcy and restructuring law firm Akin Gump Strauss Hauer & Feld LLP. However, a new report from the WSJ claims sources say that Celsius is now working with the restructuring advisory firm Alvarez & Marsal. Sources Say Celsius May Be Collaborating With a Restructuring Advisory Firm The....
Celsius, a crypto lending firm, froze their withdrawals on Sunday and now has hired restructuring attorneys from a law firm in order to get assistance about the current financial condition. Citing “extreme market conditions”, Celsius had taken the decision to pause withdrawals along with ceasing the option of transferring products. The lawyers are expected to […]
Celsius reportedly onboarded attorneys to find different solutions to the current financial challenges that the company is facing. Crypto lending platform Celsius Network (CEL) has onboarded restructuring lawyers from Akin Gump Strauss Hauer & Feld to find potential solutions to the firm's financial woes. The firm is reportedly looking for other strategic alternatives, such as a financial restructuring, apart from its attempts to solve its current problems. The report also noted that Celsius is trying to find investors who would be able to provide financing options for the crypto lending....
According to “two people familiar with the matter,” the cryptocurrency lending company Celsius is working with the financial giant Citigroup in order to get advice on how to handle the firm’s financial hardship. The sources note that Citigroup was hired by Celsius to help the company find “potential financing.”
Sources Say Celsius Is Looking for Help From Citigroup
Three days ago, Bitcoin.com News reported on the crypto lending company Celsius halting withdrawals and the speculation and rumors that surrounded the firm. Speculators believe the....
Restructuring, bankruptcy, buyouts... media outlets are swarming with different reports on the next steps Celsius may take. Crypto lending platform Celsius Network has reportedly onboarded advisers from a management consulting firm in advance of the company possibly facing bankruptcy.According to a Friday report from the Wall Street Journal, Celsius hired an unknown number of restructuring consultants from the firm Alvarez & Marsal to advise the platform on potentially filing for bankruptcy. The report followed one from June 14, which said Celsius had hired lawyers in an attempt to....