According to Odaily Planet Daily, people familiar with the matter said that creditors who borrowed from Celsius are negotiating with "several" lawyers to try to appeal its restructuring plan. They believe that the agreement is too biased towards some creditors and that the existing plan greatly reduces the amount of recovery for customers who hold bankruptcy asset debts in their loan accounts. These creditors hope to recover some of the funds they used as collateral on Celsius.
Weil Restructuring said it was unclear whether loan users would be able to appeal, as bankruptcy law sets deadlines for filing appeals. Celsius Loan creditors said they have not yet set a timeline for filing a potential legal challenge, noting they are still in the preliminary stages of exploring options. One source said Celsius's main loan creditors will provide funding for any upcoming legal action by the group.
