Crypto Lender Celsius Files to Retain Former CFO to Advise on Bankruptcy Proceedings
Rod Bolger resigned from Celsius in June, two weeks before the company filed for Chapter 11 protection.
Jul 26, 2022 at 9:37 p.m. UTCUpdated May 11, 2023 at 5:40 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/2BAFYPWJ3NFUNLTL67DTBRYSNE.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Celsius Network has filed a motion to bring back former Chief Financial Officer Rod Bolger to assist as the company makes its way through bankruptcy restructuring.
- Bolger resigned from Celsius on June 30 after serving as its CFO for just five months. The company subsequently filed for bankruptcy protection in mid-July.
- Bolger – who previously had been CFO at Royal Bank of Canada – joined Celsius after its previous CFO, Yaron Shalem, was arrested in Israel.
- “The Debtors recognize that they need Mr. Bolger’s services and expertise as they manage their transition into chapter 11 and begin negotiating a path forward,” said Celsius attorneys in a motion filed with the bankruptcy court. “His institutional knowledge and experience concerning the unique features of cryptocurrency are invaluable.”
- The motion asks that Bolger be retained for a minimum of six weeks at a salary of C$120,000 per month.
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/6d3e96dd-d55c-42d5-b887-208e2304e6fe.png)