Bankruptcy Judge in Southern District of New York Approved Third Party to Examine Celsius

A U.S. bankruptcy judge in the Southern District of New York approved an order to appoint a neutral third party to examine Celsius. Lawyers from the Justice Department, securities regulators, and representatives of creditors and consumers seeking to recoup their losses pushed for the examiner, a step to which Celsius itself did not object. Smaller claimants had asked for a trustee instead, to begin more actively paying off the company's debts. It is worth noting that the use of an examiner in Chapter 11 bankruptcies is rare.