Celsius Creditor Committee Plans to Oppose Equity Holder Motion

Growth equity firm WestCap and Quebec's pension fund CDPQ filed a motion last week requesting the court appoint their own fiduciary to protect the bankruptcy process from being "inappropriately and inequitably skewed in favor of the customers to the detriment of the Equity Holders." The result would effectively create another committee representing equity holders seeking to recoup money from the bankruptcy. In a town hall after, counsel for the Unsecured Creditor Committee (UCC) said they plan to oppose that motion. A lawyer for the group said they expect Celsius and other creditor groups to take a similar view, and they're currently working to find common ground with those parties.