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Celsius Failed to Record Some 7,000 Intercompany Transfers Worth Billions Leading Up to Bankruptcy

Press Release by Press Release
February 17, 2023
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Celsius’s CEL Token May See 20 -Cent Value in Recovery Process, Attorney Says
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“Given the dearth of record-keeping, it may not be possible to fully reconstruct the intercompany Claim,” the statement said. “If it were at all possible, it would be a time and cost intensive forensic accounting exercise that would likely require the engagement of a forensic accounting firm to manually reconstruct every intercompany transaction at a significant cost to the Debtors’ estates.”



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Tags: BankruptcybillionsCelsiusfailedIntercompanyLeadingRecordTransfersworth
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