News & Insights Client News News & Insights Client News Celsius Network Litigation Administrator Reaches Mass Settlement Framework with Largest Defense Groups and Expands Offer to Certain Remaining Preference Defendants Apr 30, 2025 NEW YORK–(BUSINESS WIRE)–The Litigation Administrator of Celsius Network, LLC (the “Litigation Administrator”), today announced the implementation of a structured, transparent, and innovative settlement framework designed to resolve preference claims against certain remaining defendants. The comprehensive process to determine the global settlement framework included successful mediation with four large defendant groups across the U.S., Europe, and Asia, representing more than 750 preference defendants. The settlement framework reflects a holistic solution, shaped by extensive legal review and negotiation, facilitated by a former U.S. bankruptcy judge, other prominent international mediators, and multiple counsel representing preference defendants. The settlement framework addresses issues of enforcement, price appreciation, the safe harbor defense, and the ordinary course of business defense. Defendants who choose to settle now for a small percentage of their potential preference exposure will mitigate preference exposure tied to the value of crypto assets and avoid the uncertainty, time, and cost of multi-year litigation. The Litigation Administrator has already settled with thousands of Celsius account holders who have preference exposure. Defendants will receive individualized notices from the Celsius Litigation Administrator and can access their settlement agreements through Stretto’s secure portal. Stakeholders with questions can refer to cases.stretto.com/CelsiusLOC for more information, which will be updated on an ongoing basis as needed. For any questions that do not require legal advice, please contact the Litigation Administrator via email at celsiuslitigationadmin@m3-partners.com or visit the FAQ page here. Of note, this settlement framework is not being offered to all preference defendants and the determination of whether this framework is extended to any defendant is solely in the discretion of the Litigation Administrator based on the facts and circumstances of each individual case. Advisors White & Case LLP is serving as legal counsel, M3 Partners is serving as financial advisor, and C Street Advisory Group is serving as strategy and communications advisor to the Litigation Administrator. Contacts Media Inquiries celsius@thecstreet.com Share this article Featured Insights The Comeback Playbook: How Strategic Communications and Branding Drive Corporate Turnarounds Related Articles Feb 27, 2025 National CineMedia, Inc. to Release Fourth Quarter and Full Year 2024 Results on March 6, 2025 CENTENNIAL, Colo.–(BUSINESS WIRE)–National CineMedia, Inc. (NASDAQ: NCMI), the managing member of National CineMedia, LLC (“NCM... Read the Article Dec 6, 2024 Celsius Begins Distributions of Funds Successfully Recovered By the Litigation Oversight Committee and Litigation Administrators Through Post Effective-Date Litigation and Asset Recoveries Announces Additional Distribution Payment of More Than $125 Million to Eligible Creditors Initial Distribution Represents... Read the Article Apr 1, 2025 Sunnova Announces Appointment of Robyn Liska as Interim Chief Financial Officer and Provides Financial Strategy Update Liska to Help Drive Go-Forward Financial and Operational Strategy Elects to Enter Grace Period for... Read the Article Sep 12, 2024 Mobileum Announces Successful Emergence from Financial Restructuring Process Well-Positioned for Long-Term Growth and Industry Leadership Strengthens Balance Sheet Through Elimination of Approximately $530 Million of Prepetition Debt New Ownership Group... Read the Article Jan 16, 2025 National CineMedia, Inc. to Host 2025 Investor Day CENTENNIAL, Colo.–(BUSINESS WIRE)–National CineMedia, Inc. (NASDAQ: NCMI) (“the Company” or “NCM”), the managing member and... Read the Article Dec 2, 2024 Hoonigan Successfully Completes Financial Restructuring Positioning Company for Continued Leadership in the Automotive Aftermarket Industry Emerges from Chapter 11 with Significantly Stronger Capital Structure Through Elimination of Approximately $1.2B of... Read the Article
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