Blog
/
Crypto lending
Expert verified
5 min read

Celsius Creditor Committee Objects To Equity Holders' Motion

Trust Akpobome
Written by:
Trust Akpobome
Reviewed by:
Trust Akpobome
Celsius Creditor Committee Objects To Equity Holders' Motion
Our Editorial Standards:

Cryptocurrencies can be volatile and high risk. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn more about our Risk Warning and Our Editorial Process.

Last week, two Celsius equity holders, WestCap and Caisse de dépôt et placement du Québec (CDPQ), filed a motion for a separate committee to represent equity holders. The filing was based on the alleged unequal representation of equity holders' interests in the ongoing bankruptcy proceedings. 

However, the lawyer for the Unsecured Creditor Committee (UCC) said that they would oppose the motion and convince the other creditor groups to do the same. According to the lawyer, having another committee will incur more expenses for the account holders sponsoring the case. Therefore, the UCC intends to engage more with the other parties, including the equity holders, to ensure equal representation of interests. 

How we reviewed this article

All Bitcompare articles go through a rigorous review process before publication. Learn more about our Risk Warning and the Bitcompare Editorial Process.

Celsius Creditor Committee Objects To Equity Holders' Motion

The Unsecured Creditor Committee (UCC) is moving to counter the motion to set up another committee to represent equity holders.
Dot
April 7, 2025
Trust Akpobome

Trust has been a freelance editor and writer for various publications in the last 2 years. His major interests are in the wild world of Blockchain, cryptocurrency, and the Metaverse.

TABLE OF CONTENTS
Alex Mashinsky; Photo Source: Blockworks

Last week, two Celsius equity holders, WestCap and Caisse de dépôt et placement du Québec (CDPQ), filed a motion for a separate committee to represent equity holders. The filing was based on the alleged unequal representation of equity holders' interests in the ongoing bankruptcy proceedings. 

However, the lawyer for the Unsecured Creditor Committee (UCC) said that they would oppose the motion and convince the other creditor groups to do the same. According to the lawyer, having another committee will incur more expenses for the account holders sponsoring the case. Therefore, the UCC intends to engage more with the other parties, including the equity holders, to ensure equal representation of interests. 

Celsius Creditor Committee Objects To Equity Holders' Motion

HomeCrypto lending
Contents
Alex Mashinsky; Photo Source: Blockworks

Last week, two Celsius equity holders, WestCap and Caisse de dépôt et placement du Québec (CDPQ), filed a motion for a separate committee to represent equity holders. The filing was based on the alleged unequal representation of equity holders' interests in the ongoing bankruptcy proceedings. 

However, the lawyer for the Unsecured Creditor Committee (UCC) said that they would oppose the motion and convince the other creditor groups to do the same. According to the lawyer, having another committee will incur more expenses for the account holders sponsoring the case. Therefore, the UCC intends to engage more with the other parties, including the equity holders, to ensure equal representation of interests. 

Trust Akpobome

Trust has been a freelance editor and writer for various publications in the last 2 years. His major interests are in the wild world of Blockchain, cryptocurrency, and the Metaverse.

Last week, two Celsius equity holders, WestCap and Caisse de dépôt et placement du Québec (CDPQ), filed a motion for a separate committee to represent equity holders. The filing was based on the alleged unequal representation of equity holders' interests in the ongoing bankruptcy proceedings. 

However, the lawyer for the Unsecured Creditor Committee (UCC) said that they would oppose the motion and convince the other creditor groups to do the same. According to the lawyer, having another committee will incur more expenses for the account holders sponsoring the case. Therefore, the UCC intends to engage more with the other parties, including the equity holders, to ensure equal representation of interests. 

Written by
Trust Akpobome