Celsius Customers’ Fees Prompt Bankruptcy Watchdog Pushback (1)

Celsius Network LLC customers and some attorneys are facing opposition to about $5 million in requested fees that, according to the Department of Justice’s bankruptcy monitoring unit, don’t meet the standards for reimbursement.

Five groups of customers and six individuals seeking fees acted in their own self-interest and didn’t benefit most creditors or the Celsius estate, the US Trustee said in a Monday objection in the US Bankruptcy Court for the Southern District of New York. Bankruptcy law allows creditors who can show that they made a “substantial contribution” to a Chapter 11 case to be reimbursed by the bankrupt ...