Celsius Official Committee of Unsecured Creditors (@CelsiusUcc) / X

Celsius Official Committee of Unsecured Creditors

432 posts

Celsius Official Committee of Unsecured Creditors

@CelsiusUcc

The twitter feed for the Celsius Networks Official Committee of Unsecured Creditors

Joined August 2022

Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
Apr 18, 2023
A big win for creditors today with Judge Glenn approving the UCC’s request to file an all account holder “class claim” against CNL and the other debtors for claims like fraud. This is intended to allow account holders get what they are entitled to from CNL.
91K
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
Apr 29, 2023
Last night the UCC filed its class claim for all account holders. The claim alleges claims for fraud, misrepresentation and state consumer protection violations against CNL and other debtors. Read it here: cases.stretto.com/public/x191/11…
55K
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
Jan 31, 2023
The examiner’s report shows in excruciating detail the improper, self-serving actions that Celsius (and its founders) took at customers’ expense, causing immense hardship to thousands of people. The UCC wants any responsible parties to pay for any bad acts.
73K
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
Sep 14, 2022
No, we do not support Kelvin or any other particular exit plan. We support finishing our ongoing investigation and opening up a full, open, transparent process that benefits account holders—not insiders. More to come at today’s hearing at 2:00.
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
Sep 26, 2022
On Wednesday 9/28 at 12 noon (ET), @CelsiusUcc will hold its 1st virtual town hall event on YouTube Live to answer the community’s questions. Feel free to share your questions in advance in the comment section. The link will get posted on Wednesday morning.
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
Apr 11, 2023
Last night, the UCC filed a motion for approval for the UCC or another appropriate party to file a class action or similar claim for non-contract claims (like fraud and misrepresentation) against CNL and the other debtors, on behalf of ALL account holders.
43K
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
Feb 14, 2023
1-In connection with its investigation, the UCC has identified significant claims and causes of action that Celsius has against Alex Mashinsky and other insiders for breaching their fiduciary obligations, fraudulent transfers, and other causes of action.
82K
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
May 2, 2023
Last night, the UCC and Celsius took decisive action to protect account holders in matters involving Celsius Network Ltd., which holds the mining assets and is where the preferred equity holders invested.
83K
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
May 25, 2023
Earlier today, the Celsius auction concluded and Fahrenheit was selected as the winning bid. The BRIC bid was selected as the backup bid. The Committee appreciates the efforts of Celsius and all bidders for their efforts, which generated significant value for Celsius users.
63K
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
Aug 5, 2022
A UCC win for account holders — after the threat of depositions and a UCC objection, @CelsiusNetwork withdrew their insider retention motion. cases.stretto.com/public/x191/11…
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
Mar 31, 2023
Last night, the UCC filed an amended and updated complaint that lays out causes of action against Alex Mashinsky and other insiders. The causes of action will get contributed to a “litigation trust” and Earn creditors would receive any proceeds.
48K
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
Aug 18, 2022
@CelsiusUcc is concerned about the effort to interject an outside “examiner” into @CelsiusNetwork bankruptcy case. It will run up millions in costs when CEL should cut costs. Let @CelsiusUcc do its job for account holders @TheJusticeDept
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
Oct 6, 2022
Users should carefully scrutinize statements online that Celsius can simply return coins without regulatory licenses or input. We are working hard to figure out the right answers to this complex issue. This is very important—we want to get the answer right for account holders.
Celsius Official Committee of Unsecured Creditors
@CelsiusUcc
Jan 31, 2024
The Plan has gone effective and the Debtors have started the process of making cryptocurrency and cash distributions!
82K