Celsius Bankruptcy Examiner Files Preliminary Plan, Estimates Total Investigation Cost Between $3M-$5M

According to The Block, Shoba Pilla, the court-appointed examiner for the bankruptcy of encrypted lending platform Celsius, submitted a preliminary plan for her upcoming investigation, which is called meeting the court's deadline to request Celsius legal counsel to speed up the production of documents. Shoba Pilla said that while it was too early to make firm estimates, she expected the total cost of the investigation to be between $3 million and $5 million. Expect to interview 15-25 witnesses and speak with Celsius executives and staff in a "non-interview setting" to facilitate the flow of information. The work plan will be submitted to Chief Insolvency Judge Martin Glenn for approval on October 21. Parties to the case have until October 18 to file objections or comments.