1 year ago
Celsius has objected to a question filed by cryptocurrency institution Galaxy Digital seeking implicit $190,000 successful fees for storing lone $2.67 worthy of Celsius’ integer assets.
In a bankruptcy tribunal filing Thursday, Celsius argues that Galaxy’s services were not indispensable expenses deserving precedence repayment.
Celsius filed for Chapter 11 bankruptcy protection successful July. The 2 companies had a concern narration wherever Celsius stored cryptocurrency connected Galaxy’s level and paid a monthly fee.
After Celsius sold portion of its concern to Galaxy successful a bankruptcy sale, it says it lone had $2.67 worthy of cryptocurrency stored with Galaxy. But Galaxy kept invoicing Celsius astir $30,000 per month.
Galaxy filed a question claiming these were indispensable administrative costs to sphere Celsius’ assets and asking the tribunal to bid repayment. Celsius objected, saying the tiny worth stored makes the fees disproportionate and unnecessary.
Celsius has asked the tribunal to contradict Galaxy’s question for fees totaling $191,610. Celsius says Galaxy failed to beryllium the expenses were existent and indispensable costs deserving of precedence repayment successful the bankruptcy case.
The objection is pending earlier the U.S. Bankruptcy Court for the Southern District of New York.
The station Celsius assertion Galaxy Digital seeking implicit $190,000 to repay $3 debt appeared archetypal connected CryptoSlate.
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