Celsius Requests To Prolong the Claims Filing Deadline To February 2023

• Celsius network files a petition for extension of claims deadline.
• For the second time, Celsius requested time to file proofs of claim.
• The crypto community is losing patience for the prolong of bankruptcy.

The bankruptcy filing of crypto lender Celsius network is still in process dragging the case in the U.S court. Early in July, the filing of chapter 11 bankruptcy came into existence which halted the withdrawals of its customers right then. Moreover, the Celsius requested all its customers to file their claims as a proof of statement. In addition, the liquidity crunch has caused Celsius to struggle this year. 

As Celsius had already requested for the extension of the deadline for its customers to submit the claims by the end of November. Now for the second time the crypto lender plans to file a petition to the court to expand the time to file the proofs claim. More so, earlier the court approved the extension to file claims and gave time until  Jan. 3, 2023. 

In line to this, Celsius is requesting to move the deadline to early of February as the customers can submit their claims by then.

Celsius Files Petition for Motion  

Moreover, the ongoing bankruptcy process is prolonging with extensions of deadlines for the proper claims to be registered. Any individuals, partners, corporations, joint ventures or any businesses who are affected by the Celsius crisis can file their claims through email or via Stretto’s website. So from the overall claims report, the Celsius’ creditors alone have made over 17,200 claims as of Dec. 29. 

Additionally, as the Celsius bankruptcy case is proceeding from July, the administrative charges continue to surge. Also, the fees quoted by the bankers, lawyers and other legal advisers in this case already reached $53 million by the financial report on Dec. 27. 

As it is just dragging, all of Celsius customers became impatient experiencing the worst in the market. In addition, the crypto community assumes the extension of the case is a “delay strategy” for the network. Hence, it is a hectic time for Celsius to close the case asap, and repay its customers without wasting time.