Shoba Pillay, Examiner in Celsius Network Bankruptcy, Files Final Report
News
January 31, 2023
Shoba Pillay, the court-appointed Examiner in In re Celsius Network LLC, et al., filed her Final Report with the United States Bankruptcy Court for the Southern District of New York. A copy of the Examiner’s Final Report is available here. Shoba’s final report builds on her November 18, 2022 Interim Report and contains her findings on the issues the Court directed her to examine: Celsius’s activities regarding its crypto assets and public representations, Celsius’s bitcoin mining utility obligations, and Celsius’s procedures for paying certain taxes. Shoba’s comprehensive investigation included dozens of witness interviews of current and former Celsius employees and other individuals, as well as the review of thousands of documents. As she writes in her final report, “[t]he business model Celsius advertised and sold to its customers was not the business that Celsius actually operated.”
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© 2026 Jenner & Block LLP. Attorney Advertising. Jenner & Block LLP is an Illinois Limited Liability Partnership including professional corporations. This publication, presentation, or event is not intended to provide legal advice but to provide information on legal matters and/or firm news of interest to our clients and colleagues. Readers or attendees should seek specific legal advice before taking any action with respect to matters mentioned in this publication or at this event. The attorney responsible for this communication is Brent E. Kidwell, Jenner & Block LLP, 353 N. Clark Street, Chicago, IL 60654-3456. Prior results do not guarantee a similar outcome. Jenner & Block London LLP, an affiliate of Jenner & Block LLP, is a limited liability partnership established under the laws of the State of Delaware, USA and is authorised and regulated by the Solicitors Regulation Authority with SRA number 615729. Information regarding the data we collect and the rights you have over your data can be found in our Privacy Notice. For further inquiries, please contact dataprotection@jenner.com.
News
January 31, 2023
Shoba Pillay, the court-appointed Examiner in In re Celsius Network LLC, et al., filed her Final Report with the United States Bankruptcy Court for the Southern District of New York. A copy of the Examiner’s Final Report is available here. Shoba’s final report builds on her November 18, 2022 Interim Report and contains her findings on the issues the Court directed her to examine: Celsius’s activities regarding its crypto assets and public representations, Celsius’s bitcoin mining utility obligations, and Celsius’s procedures for paying certain taxes. Shoba’s comprehensive investigation included dozens of witness interviews of current and former Celsius employees and other individuals, as well as the review of thousands of documents. As she writes in her final report, “[t]he business model Celsius advertised and sold to its customers was not the business that Celsius actually operated.”
Related Attorneys
Related Capabilities
© 2026 Jenner & Block LLP. Attorney Advertising. Jenner & Block LLP is an Illinois Limited Liability Partnership including professional corporations. This publication, presentation, or event is not intended to provide legal advice but to provide information on legal matters and/or firm news of interest to our clients and colleagues. Readers or attendees should seek specific legal advice before taking any action with respect to matters mentioned in this publication or at this event. The attorney responsible for this communication is Brent E. Kidwell, Jenner & Block LLP, 353 N. Clark Street, Chicago, IL 60654-3456. Prior results do not guarantee a similar outcome. Jenner & Block London LLP, an affiliate of Jenner & Block LLP, is a limited liability partnership established under the laws of the State of Delaware, USA and is authorised and regulated by the Solicitors Regulation Authority with SRA number 615729. Information regarding the data we collect and the rights you have over your data can be found in our Privacy Notice. For further inquiries, please contact dataprotection@jenner.com.
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