Claims Process FAQ
We expect to soon begin the claims process. An overview of this phase of our restructuring process is available in this video.
1. What are the Schedules of Assets and Liabilities?
As part of our Chapter 11 proceedings, Celsius files documents with the Court listing, among other things, all customer account balances as of July 13, 2022, when the restructuring process began as well as customer transactions in the 90 days preceding the Chapter 11 filing. Customers can request and review their claim as listed in Celsius’ Schedules of Assets and Liabilities (the “Schedules”) on the Stretto website at https://case.stretto.com/celsius/file-a-claim.
2. Why is the amount listed in the Schedules different from my account balance in the app?
There are several possible reasons why the amount listed on the Schedules may be different from the account balance displayed in the app, including post-filing deposits and pending transactions.
3. Do I have to file a claim?
If you agree with Celsius’ records as filed, you do not need to complete and submit a proof of claim form; no further action is required. If you disagree with the information, or if your claim was marked as “contingent,” “unliquidated,” or “disputed,” you would need to submit proof of claim.
Please note the current proof of claim form available through the Stretto website has been revised to make it easier for customers to submit information related to your crypto balance. Customers will be sent the appropriate form with comprehensive instructions in accordance with the procedures for our claims process.
4. Why do Celsius customer names appear in the Schedules of Assets and Liabilities and Statements of Financial Affairs filed with the Court?
Celsius actively sought full anonymization of customer information. The Court issued a ruling that required the company to include creditor names in these documents and Celsius is complying with all Court orders.
5. When is the deadline to file a claim?
The Court has entered the order setting the bar date, which is the deadline for all customers to file a claim. That date has been set for January 3, 2023.
Customers will receive detailed instructions on how to file a claim. Stretto will send this communication, which will clearly state any deadlines, to the email address associated with your Celsius account and via physical mail for those customers with an address on file. At that time, a claim form specific to crypto assets, mentioned above, will be available. It will be designed to simplify how our customers file claims.
6. I already filed a claim using the standard form on Stretto’s website. Do I have to resubmit on the new form?
Although you are not required to do so, amending your original claim on the updated form will help expedite the reconciliation of your claim with Celsius’ records.
7. How will I know my proof of claim has been received?
Upon submitting your form online, you will receive a confirmation email with a reference number for your proof of claim.
If you choose to mail your claim, you will need to submit two copies with a self-addressed and stamped return envelope to receive confirmation of receipt.
8. How do I know if Celsius has the right contact information for me?
If you would like to confirm that the account details and contact information are updated and current, please contact Celsius Customer Care through the webform on our site.
9. What happens after the Bar Date?
After the Bar Date, Celsius will reconcile all filed claims against our records. Once claims have been reconciled, allowed claims will receive a distribution as provided for in the Chapter 11 Plan that will be approved by the Court.