A U.S. court has approved the appointment of an external examiner to probe into the affairs of Celsius as the bankruptcy case heats up. The court order signed by bankruptcy judge Martin Glenn names Shoba Pillay as the appointed examiner in the matter.
@CelsiusUcc looks forward to engaging with the newly appointed examiner, Shoba Pillay, on this important process. https://t.co/fA83jQXV7Y
— Celsius Official Committee of Unsecured Creditors (@CelsiusUcc) September 29, 2022
Pillay is a partner at Jenner & Block, a Chicago-based law firm where she heads Data Privacy and Cybersecurity Practice. Her LinkedIn profile reveals that she is a partner in the firm’s National Security, Sanctions, and Export Controls Practice. She previously had a stint as an Assistant U.S. Attorney in Illinois.
The order charges Pillay to provide the court with a detailed report of the financial dealings of the company and the condition of its mining business within a stipulated time frame. While the decision to appoint an examiner is a rarity in a bankruptcy case, parties thought it wise to select a neutral investigator on the grounds of “extreme financial irregularities.”
The payment of the examiner for the services rendered was amplified by concerned parties, but the recent appointment suggests that a consensus was reached. The Committee for Unsecured Creditors (UCC), the representative of creditors, agreed to the appointment of a creditor following the narrowing of the scope of the
