equities

ChainCatcher news, according to a bankruptcy court document, Celsius Network submitted a "defensive complaint" to EquitiesFirst Holdings on Wednesday afternoon in an attempt to recover assets. EquitiesFirst is a private lending platform that owed Celsius approximately $439 million in cash and Bitcoin as of July 2022.It is reported that Celsius first obtained a mortgage from the platform in 2019, but EquitiesFirst failed to return the collateral in 2021. The document submitted on Wednesday lists EquitiesFirst and its CEO Alexander Christy as defendants. Celsius filed for bankruptcy protection in July 2022. Co-founder and former CEO Alex Mashinsky was arrested earlier this year and now faces multiple charges, including securities fraud and manipulation of the company's CEL token. Celsius creditors are currently voting on whether to sell assets to the Fahrenheit consortium, which is expected to recover 67% to 85% of the assets.

ChainCatcher news, Celsius creditors have begun to subpoena Equities First, a lending company embroiled in Celsius's bankruptcy. Previously, Celsius's former CEO Alex Mashinsky stated that the company had borrowed from Equities First, and when they attempted to repay the loan, Equities First was unable to return the collateral. Mashinsky indicated that Celsius still owes Equities First $439 million.Current creditors are seeking information regarding the loan agreement between Celsius and Equities First, any cash transfers between Celsius and the lender, and the reasons why Equities First was unable to repay the $439 million in collateral. (CoinDesk)