According to a work plan filed by Shoba Pillay, the court-appointed examiner in Celsius’ bankruptcy case, the overall costs for her job would likely range between $3 million and $5 million.
- The proposed counsel to the examiner said in a file that her main objective is to comprehend the volume and breadth of documents and data that must be analyzed for the inquiry.
- Shoba Pillay has yet to be granted access to the necessary papers she needs for her job, despite negotiations with Celsius’ legal counsel and financial advisors. However, the filing also said that she anticipates receiving it shortly since Celsius just made a publicly released statement of their financial affairs.
- On September 29, Pillay was chosen to serve as the independent examiner. Her duties include looking into Celsius’ cryptocurrency holdings, including finding out where such holdings were kept before and after the firm filed bankruptcy claims and if multiple kinds of accounts were mixed.
- She will also examine a change in account offers that went into effect in April 2022, switching certain clients from the Earn Program to the Custody Service while placing others in a “Withhold Account.”
- Celsius Network tweeted that the court should establish a deadline for customers to provide claim evidence. That motion will be heard on November 1.
See Related: Celcius Files For Bankruptcy Revealing A Billion-Dollar Deficit
