{"id":64203,"date":"2022-07-11T08:59:28","date_gmt":"2022-07-11T05:59:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64203"},"modified":"2025-09-06T13:06:19","modified_gmt":"2025-09-06T10:06:19","slug":"media-celsius-hires-new-lawyers-for-restructuring-advisory-reports-say","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-celsius-hires-new-lawyers-for-restructuring-advisory-reports-say\/","title":{"rendered":"Media: Celsius hires new lawyers for restructuring advisory, reports say."},"content":{"rendered":"<p>The Celsius lending platform has hired new lawyers to advise on possible restructuring options, reports <a href=\\\"https:\/\/www.wsj.com\/articles\/troubled-crypto-lender-celsius-hires-new-restructuring-lawyers-11657473712\\\">The Wall Street Journal<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>According to media reports, the platform is now working with Kirkland &#038; Ellis LLP. The firm&#8217;s lawyers will advise Celsius on various issues, including filing for bankruptcy, sources said.<\/p>\n<p>\\n\\n<\/p>\n<p>Earlier the platform discussed restructuring with <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-network-token-price-rises-nearly-59\">specialists from Akin Gump Strauss Hauer &#038; Feld<\/a>, media reported.<\/p>\n<p>\\n\\n<\/p>\n<p>Later it emerged that Celsius <a href=\"https:\/\/u1f987.com\/en\/news\/media-celsius-hires-citigroup-to-explore-financing-options\">hired the financial conglomerate Citigroup<\/a> to seek a solution to the problems that arose after clients&#8217; assets were frozen.<\/p>\n<p>\\n\\n<\/p>\n<p>Existing investors are reportedly amenable to a restructuring, but will refrain from new investments in the project.<\/p>\n<p>\\n\\n<\/p>\n<p>Earlier on June 13, Celsius halted withdrawals, exchanges and transfers between accounts.<\/p>\n<p>\\n\\n<\/p>\n<p>Lawyer Adam Levitin said that the company&#8217;s bankruptcy is virtually inevitable. In his view, Celsius&#8217;s management has decided to bet on an &#8220;adventure with resurrection&#8221;.<\/p>\n<p>\\n\\n<\/p>\n<p>On July 7 Celsius <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-repaid-its-makerdao-loan-and-withdrew-23-962-wbtc-in-collateral\">fully repaid its loan in the DeFi protocol MakerDAO<\/a> and withdrew a total of 23,962 WBTC collateral worth about $490 million. Just a few hours later, the platform <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-network-transfers-over-500-million-in-wbtc-to-the-ftx-exchange\">transferred 24,463 WBTC to the address of the FTX cryptocurrency exchange<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>For more on what happened to Celsius and how the incident affected the market, read ForkLog&#8217;s cards at <a href=\"https:\/\/u1f987.com\/en\/news\/what-happened-to-celsius-cel\">ForkLog cards<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news in our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Celsius lending platform has hired new lawyers to advise on possible restructuring options, The Wall Street Journal reports.<\/p>\n","protected":false},"author":1,"featured_media":64204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1348,1375],"class_list":["post-64203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-celsius-network","tag-lawyers"],"aioseo_notices":[],"amp_enabled":true,"views":"5","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=64203"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64203\/revisions"}],"predecessor-version":[{"id":64205,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64203\/revisions\/64205"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/64204"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=64203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=64203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=64203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}