Lawyers for Celsius investors file motion to have interests represented in court
The legal team requested the court appoint a committee representing certain shareholders or the case could end up "inappropriately and inequitably skewed in favor of the customers.". An international law firm representing groups of Celsius investors has filed a motion to appoint a committee.
In a Thursday filing with the U.S. Bankruptcy Court in the Southern District of New York, lawyers with the law firm Milbank requested the appointment of an "Official Preferred Equity Committee" to represent certain Celsius shareholders. According to the filing, the equity holders “urgently require their own fiduciary” for representation in court alongside Celsius debtors and an Unsecured Creditors Committee, or UCC. The shareholders included investors in Celsius’ Series B $750-million funding round from November 2021.
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