3 ms·
I suspect "Celsius execs" are about to get a tour of US bankruptcy law's clawbacks policy. Anyone who withdrew money from Celsius in the 90 days leading up to
by arcticbull 4y ago
I suspect "Celsius execs" are about to get a tour of US bankruptcy law's clawbacks policy.
Anyone who withdrew money from Celsius in the 90 days leading up to the bankruptcy can be ordered by the judge to put it back in, and that timeline is extended to 1 year for insiders. [1]
A bunch of the folks who thought they got out of Madoff's fund learned that lesson last time.
[1] https://www.lowenstein.com/media/3095/beware-of-bankruptcy-clawback-suits.pdf https://www.lowenstein.com/media/3095/beware-of-bankruptcy-c...