Celsius bankruptcy case Trustee slams $3M employee bonus motion

[Google News Bot]

The U.S. Trustee overseeing the Celsius chapter 11 bankruptcy case, William Harrington, has objected to a Celsius motion that would see 62 of its 275 employees paid a retention bonus totaling $2.96 million. The Trustee has blasted Celsius in its supporting statement for the objection filed on Oct. 27, noting: “It defies logic, not to mention the Bankruptcy Code, that a company where the majority of its functions are no longer providing services, would now propose a multi-million dollar bonus scheme.” For the “bonus motion”, as it is aptly named, to receive approval, the Trustee claims ...

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