About 58,000 customers held cryptocurrencies in the company’s custody accounts. The lawyer whom Mr. Little’s group hired, Kyle Ortiz, plans to argue that those funds — worth $180 million — remain the customers’ property under the terms of service.
For Celsius’s interest-bearing accounts, that would be a difficult case to make, legal experts said. But custody holders have a better shot, because the contractual language appears more favorable.
“The custody customers have a decent chance of prevailing and getting their money back,” said Adam Levitin, a bankruptcy professor at Georgetown Law.
‘Enforcement 40’ for 2020
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