Tue. Sep 27th, 2022


Embattled cryptocurrency lender Celsius Network has reorganized its board of directors amid bankruptcy speculation, according to filings published by U.K. government executive agency Companies House on Wednesday.

See related article: Celsius repays debts, cuts jobs amid bankruptcy fears

Fast facts

  • Celsius appointed David Barse and Alan Jeffrey Carr as directors in late June, filings show.
  • Barse is the founder and CEO of XOUT Capital, a company specializing in identifying companies to be removed from an index, while Carr is the founder and CEO of Drivetrain, which provides restructuring services.
  • Filings also showed that Celsius terminated John Stephen Dubel, Laurence Anthony Tosi and Gilbert Nathan as directors at the end of last month. 
  • The filings indicate that Nathan and Dubel were terminated in less than two weeks of their appointment as directors. 
  • Dubel is the founder of restructuring services provider Dubel & Associates, while Tosi, who previously served as CEO of Airbnb and The Blackstone Group, is the founder of investment firm WestCap.
  • Celsius’s reorganization of its board follows the halt of withdrawals and transfers on June 13. 

See related article: Celsius said to be hiring restructuring attorneys, exploring financing options



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