Bloomberg Law
March 23, 2023, 6:21 PM

Celsius Judge Delays Decision on $1.5 Billion Bankruptcy Deal

John Nancarrow
John Nancarrow

A judge delayed ruling on a $1.5 billion proposal to bring Celsius Network LLC out of bankruptcy in order to give federal and state regulators a chance to oppose the deal, which would give the right to manage digital coins on the platform to crypto firm NovaWulf Digital Management.

In a court hearing in Manhattan on Thursday, US Bankruptcy Judge Martin Glenn questioned whether NovaWulf should be paid up to $13 million to cover its legal and other fees if the transaction fails to win regulatory support. He asked the US Securities and Exchange Commission, and a handful of state ...

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