Celsius creditors tout NovaWulf deal as ‘best’ option
The Official Committee of Unsecured Creditors in the Celsius bankruptcy case said a proposed sale to NovaWulf Digital Management is “the best” option, according to a new court filing. Under a proposed bankruptcy deal, smaller creditors would get 70% of their money back.
“While the committee will consider all options until a plan is confirmed and has become effective, the committee also believes that the NovaWulf Transaction is the best, actionable alternative at this time,” the filing said. Celsius drew nine takeover bids and 40 expressions of interest, court documents say. The new owners plan to inject between $45 million and $55 million into the business and add new divisions, like private wealth and trade finance. The independent examiner in the Celsius bankruptcy filed a bombshell report.
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