Voting In The Celsius Bankruptcy Case

As we have been discussing in prior updates, the bankruptcy case of Celsius Network LLC is reaching an important milestone as most creditors now have the ability to vote on the Plan of Reorganization proposed by the Debtors (the "Plan"). Assuming that the Plan is approved, which we are expecting it will be, the Court has scheduled a hearing to confirm the Plan on October 2, 2023. Barring any unforeseen hurdles or objections to confirmation, the Plan should become effective soon after its confirmation on October 2, 2023. At the effective stage of the Plan, most of the digital assets held by the Debtors will be sold and the initial payment to Earn creditors will be made.

A number of creditors have asked us about the voting procedures which we outline below.