Celsius Estate Gets Key Jurisdictional Win in Customer Clawbacks

Celsius Network LLC customers across the world who withdrew more than $100,000 from the cryptocurrency lending platform just before its collapse are subject to clawback litigation in the US, a New York bankruptcy judge ruled.

Thousands of Celsius account holders who previously declined offers to settle their exposure to post-bankruptcy litigation will continue to face the full extent of lawsuits over withdrawals they made in the 90 days before the company’s 2022 Chapter 11 filing, Judge Martin Glenn of the US Bankruptcy Court for the Southern District of New York ruled Tuesday.

Defendants globally are subject to personal jurisdiction in ...