Celsius Bankruptcy Claw Back Adversary Proceedings in SDNY Bankruptcy Court

Celsius Bankruptcy Claw Back Adversary Proceedings in SDNY Bankruptcy Court 

Celsius Network LLC, the crypto company, filed for Chapter 11 bankruptcy. Pursuant to their confirmed Chapter 11 plan, they have commenced 2,000 adversary proceedings in the Southern District of New York, seeking to claw back monies withdrawn by Celsius customers 90 days prior to the bankruptcy filing or from April 14, 2022, through July 13, 2022 (the “Preference Period”).

The 2,000 lawsuits are being brought by ASK LP (Debtor’s preference litigation counsel)

Jim Shenwick, Esq. has defended over 100 adversary proceedings for various causes of action, including preferences and fraudulent conveyances. He is familiar with cryptocurrency and has a working relationship with ASK LP.

Jim Shenwick was recently retained by a client to defend against a Celsius lawsuit seeking to 

claw back over $200,000 withdrawn from Celsius prior to the bankruptcy filing. We have commenced settlement negotiations and are optimistic about a very favorable settlement for the client.

We have also been approached by another former Celsius customer who was sued in a clawback action.

Clients who have been sued or have questions about the clawback lawsuits are advised to contact Jim Shenwick as soon as possible to discuss their options or to seek representation in these cases.

Jim Shenwick can be reached at 917 -363-3391 or at jshenwick@gmail.com 

Please click the link to schedule a telephone call with me. 

https://calendly.com/james-shenwick/15min

Commercial Chapter 11 Bankruptcies see a 34% increase in the first half of 2024

Commercial Chapter 11 Bankruptcies see a 34% increase in the first half of 2024.

 See  https://www.conchovalleyhomepage.com/news/national-news/commercial-chapter-11-bankrupcies-see-a-34-increase-in-the-first-half-of-2024/amp/

Jim Shenwick, Esq  917 363 3391  jshenwick@gmail.com 

Please click the link to schedule a telephone call with me.

https://calendly.com/james-shenwick/15min

We help individuals & businesses with too much debt!

After Dismissal of Bankruptcy Case, Here’s What’s Next for Giuliani

 

After Dismissal of Bankruptcy Case, Here’s What’s Next for Giuliani?

 Without the protection of Chapter 11, the former mayor and Trump lawyer could have his assets seized and sold by creditors. See the article in the New York Times. The article can be found at https://www.nytimes.com/2024/07/13/us/politics/rudy-giuliani-bankruptcy-case.html?smid=nytcore-android-share

When Mayor Giuliani filed for Chapter 11 bankruptcy, he received the benefit of Section 362 of the Bankruptcy Code, which provides an automatic stay against lawsuits and enforcement of judgments so the debtor can reorganize. With the dismissal of the bankruptcy case, Mayor Giuliani loses the protection of the automatic stay, and his assets can be liened or levied by creditors. 

Individuals with questions about the automatic stay or personal bankruptcy should contact Jim Shenwick, Esq.

Jim Shenwick, Esq  917 363 3391  jshenwick@gmail.com 

Please click the link to schedule a telephone call with me.

https://calendly.com/james-shenwick/15min

We help individuals & businesses with too much debt!

Companies going bankrupt at the fastest pace since 2020 in historic surge

The New York Post is reporting that "Companies going bankrupt at the fastest pace since 2020 in historic surge".  They stated that there is a “historic surge” of corporate bankruptcies underway in the US, as debt-saddled companies struggle to adjust to the new era of high interest rates. The story can be found at 

https://nypost.com/2024/07/11/business/companies-going-bankrupt-at-the-fastest-pace-since-2020-in-historic-surge/?utm_source=gmail&utm_campaign=android_nyp

Jim Shenwick, Esq  917 363 3391  jshenwick@gmail.com 

Please click the link to schedule a telephone call with me.

https://calendly.com/james-shenwick/15min

We help individuals & businesses with too much debt!