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@SimonDixonTwitt
Mar 29 • 13 tweets • 9 min read Twitter logo Read on Twitter
Latest #Celsius Chapter 11 Updates For Creditors with TL:DR:
Settlement of litigation from a former employee that did not have a separation agreement but alleged discrimination. She brought a case against Celsius in the UK and given the @CelsiusUcc involved with litigating it, #Celsius and the UCC decided to settle cases.stretto.com/public/x191/11…… twitter.com/i/web/status/1…
Flow Diagram of #JasonNewCo #NovaWulf Bid Reorg in one slide. I had my first call with the full team to understand more about regulatory model & a regulatory model was submitted for regulators to give feedback on the docket. cases.stretto.com/public/x191/11…
The Withhold Ad-hoc group has reached a settlement with #Celsius & @CelsiusUcc. Group members that accept the settlement will get in-kind 15% distribution and their remaining 85% will be treated as an Earn Claim. Withhold claims that reject the settlement cases.stretto.com/public/x191/11…… twitter.com/i/web/status/1…
CryptoSexual (Jason Amerson) continues to try to refine his motion to rollback my additional 289 returned #Bitcoin that he made me aware of accidentally. This must be hurting his ‘Chief Defender of Alex Mashinsky’s Reputation Officer’ promotion by Alex 😛 cases.stretto.com/public/x191/11…
Court hearing to waste Judge Glenn time set, but good comedy value I guess - April 18th. Shall I bring on @DanielFCelsius to defend me & go head to head in real court rather than Twitter bankruptcy court @CelsiusLoans @elveton101 ?
UCC @CelsiusUcc on Withhold settlement
#Celsius wants to retain Stout Risius Ross, LLC to act as their valuation advisor in connection with the disclosure statement. They will assist in the determination of the Fair Value of the Debtors’ reorganization value upon emergence, including cases.stretto.com/public/x191/11…… twitter.com/i/web/status/1…
#Celsius is looking to implement a Key Employee Incentive Program to ten senior managers & key employees with an aggregate target of $2.86m if they are able to get to plan confirmation. In the event of confirmation of an orderly wind-down instead, they cases.stretto.com/public/x191/11…… twitter.com/i/web/status/1…
I’ll do a live session today on my non-lawyer interpretation of Series B, Mining & intercompany loans etc tonight. #Celsius Shareholders & Creditors Important Update youtube.com/live/l9PQxKQZ7…
Updates from #SEC, State Regulators & plan regulatory assumptions for #NovaWulf Bid
I am aware of four syndicates of bidders aiming to join the race to make the bid competitive. Feel free to reach out to me if you are serious to bid, capitalised, have regulations covered & need guidance or introductions.
After the YouTube update I’ll host a Twitter Space to take questions on #Celsius Chapter 11 with other creditors. I’ve got a bit of a sore throat but hopefully I’ll be OK @pr_simondixon Set a reminder! twitter.com/i/spaces/1lDGL…

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More from @SimonDixonTwitt

Simon Dixon Profile picture
Mar 28
#SEC on #Celsius Chapter 11 #NovaWulf Bid after Judge Glenn request to comment - they have no comment on the bid protections motion and also said they "do not yet have all the facts and details that may be necessary to fully evaluate the transactions." cases.stretto.com/public/x191/11…
#Celsius Shareholders & Creditors Important Update youtube.com/live/l9PQxKQZ7…
Post YouTube AMA for the latest updates on #Celsius Chapter 11 twitter.com/i/spaces/1lDGL…
Read 15 tweets
Simon Dixon Profile picture
Mar 23
#Celsius Chapter 11 Update: Debtor's reply to the Bid Protections Proposal and Objections thereof to be heard in court today. cases.stretto.com/public/x191/11…
— #Celsius reiterate major plan benefits —
1) 100% of common equity to General Earn Claim holders in the form of Equity Share Tokens (ESTs).
2) Management Share Tokens (MSTs) to General Earn Claims get an annual distribution eq to 50bps of NewCo Fee-Paying Asset Value and a 2.5%… twitter.com/i/web/status/1…
Revised #Celsius @NovaWulfDigital Bid Protections Order cases.stretto.com/public/x191/11…
Read 38 tweets
Simon Dixon Profile picture
Feb 14
#Celsius & @CelsiusUcc going after claims & causes of action against insiders due to "fraud, recklessness, gross mismanagement, and self-interested conduct." cases.stretto.com/public/x191/11… twitter.com/i/web/status/1…
Looks like they're settings the stage for the litigation trust. If you want to get in trouble with your significant other read this on Valentines Day inserts of being romantic. ❤️
One of the valuable assets for creditors is the personal wealth of the insiders. Here is how they unjustly enriched themselves using our funds & what they want to come after.
Read 10 tweets
Simon Dixon Profile picture
Feb 13
1/4) If we don't see a #Celsius plan on 2/15, we're probably all getting liquidated $USD back at this point. Regulators are running low on patience. Time to show the plan Celsius. No more messing around cases.stretto.com/public/x191/11…
2/4) Multiple state entities (Alabama, Arkasas, DC, Hawaii, Maine, New York, North Carolina, North Dakota, Oklahoma, California) agree that the estate has been bleeding funds and Celsius has not proven that they are ready to present a plan.
3/4) They note the "devastating report of the Examiner" and they are interested in the Trustee motion if the facts surrounding the Special Committee members appointment and degree of actual independence present a conflict in discovery.
Read 5 tweets
Simon Dixon Profile picture
Jan 4
It’s official. #Celsius was an illegal bank. Judge Glenn has ruled that Earn is property of the estate cases.stretto.com/public/x191/11…
"For the reasons detailed below, the Court finds, on the evidence before it, that the Terms of Use formed a valid, enforceable contract between the Debtors and Account Holders, and that the Terms unambiguously transfer title and ownership of Earn Assets deposited into Earn…
Accounts from Accounts Holders to the Debtors. The Court also finds that stablecoins, like other Earn Assets, are property of the Estates and the Debtors may sell the stablecoins outside of the ordinary course of business to provide liquidity for these Chapter 11 proceedings."
Read 6 tweets
Simon Dixon Profile picture
Jan 4
#Celsius 24 Jan Court Hearing Motions…
#1. Resuming servicing of institutional loans cases.stretto.com/public/x191/11…
#2. Returning about $1.3 mm coins that were apparently accidentally transferred to Celsius after the bankruptcy filing cases.stretto.com/public/x191/11…
Read 4 tweets

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