A Breakdown of Celsius’ Chapter 11 Filing
Quick Take
- Filed for Chapter 11 bankruptcy protection on July 13, 2022, in the Southern District of New York
- Engaged with investment bank Centerview Partners (CVP), law firm Kirkland & Ellis (K&E), restructuring consultants Alvarez & Marsal (A&M) and Stretto mid-June 2022
- July 7, 2022, KeyFi complaint in New York State Supreme Court against CNL and Celsius KeyFi LLC for breach of contract, negligent misrepresentation and fraud claims
- Celsius currently employs 670 employees with 1.7mm users across +100 countries and 300K daily active users with +$100 in balances on platform
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Author: Greg Lim
