Celsius Network, a bankrupt crypto lender, filed a complaint against EquitiesFirst Holdings, a lending firm, in a bid to recoup assets, stated Cointelegraph.
With insights from a sealed adversary complaint filed on September 6, 2023, Celsius is looking for injunctive relief. It is believed that a declaratory judgment is associated with the “recovery of money/property,” the title of the docket.
The filing named both EquitiesFirst and Alexander Christy, its CEO as defendants. Additionally, it is expected that Celsius had also filed a summons on the same day, requiring that the private lender provide a motion or answer within 35 days, Cointelegraph added.
As per Cointelegraph, the Federal Trade Commission had issued Celsius with $4.7 billion in fines. Furthermore, it is believed that they were allegedly “duping” users but suspended the judgment in order for the platform to use the assets as part of its bankruptcy proceedings, Cointelegraph concluded.
(With insights from Cointelegraph)
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