Trustee
Celsius wants to extend the deadline for claims as lawyer fees mount
Bankrupt crypto lender Celsius Network is planning to file a motion that would extend the deadline for users to submit their claims by another month. The crypto community has started to grow impatient, noting that Celsius’ lawyer fees have continued to stack up and are eating away at the lender’s estate. In a Dec. 29 tweet, Celsius announced that it would seek to extend the current deadline for claims from Jan. 3 to early February. The bankruptcy court is set to hear the motion on Jan. 10, and according to Celsius, the Jan. 3 deadline will be extended until at least then. Celsius is preparing to file a motion later this week requesting an extension of the bar date, which is the deadline to file a claim, from January 3, 2023, until early February. — Celsius (@CelsiusNetwork) Dec...
Celsius bankruptcy case Trustee slams $3M employee bonus motion
The United States Trustee overseeing the Celsius Chapter 11 bankruptcy case, William Harrington, has objected to a Celsius motion that would see 62 of its 275 employees paid a retention bonus totaling $2.96 million. The Trustee has blasted Celsius in its supporting statement for the objection filed on Oct. 27, noting: “It defies logic, not to mention the Bankruptcy Code, that a company where the majority of its functions are no longer providing services, would now propose a multi-million dollar bonus scheme.” For the “bonus motion,” as it is aptly named, to receive approval, the Trustee claims that Celsius must show that the bonuses are reasonable based on the facts of the case. Without any identifiable metrics, the Trustee says Celsius has failed to do so. While the objection does not inf...
Ex-President Obasanjo visits Chicks market in Ibadan, promises improved system
Former President Olusegun Obasanjo on Thursday assured members of the Day Old Chicks Merchant Association of Nigeria (DOCMAN) of improved system and the backing of the government. Obasanjo gave the assurance during his surprise visit to the market, Obasanjo Day Old Chicks Market, located at Oluyole Estate in Ibadan. The former president, who arrived at the market at about 9.20 a.m, was conducted round the congested market by Deacon Sunday Agusa, the General Manager of Obasanjo Farms, Ibadan. Newsmen report that there was massive turnout of traders at the market to welcome the former president amidst pomp and pageant. Obasanjo said that his attention was drawn to the existence of the market by his staff member and the use of his name to grow the market to an international standard on day-ol...
House to hold valedictory session for deceased member Ossy Prestige
Abia Facts The House of Representatives, will on April 15, hold a valedictory session for the late member representing Aba North /Aba South federal constituency of Abia State, Hon. Ossy Prestige. Younger brother to the late lawmaker, Rotarian Chuks Nnanna, who disclosed this while briefing journalists in Aba, explained the event, would mark the beginning of activities for the burial of the late lawmaker. Prestige, who was serving his second term at the House on the platform of the All Progressive Grand Alliance, APGA, died on February 6 in Germany, after a brief illness. He further disclosed that there would be a walk as well as an interdenominational service in honour of the late lawmaker who would be buried on April 24 at Abiriba, in Ohafia council area. Meanwhile, a group, Old Bende Pro...
