Landing platform Celsius has hired new lawyers to advise on possible restructuring options, according to The Wall Street Journal.

According to media reports, the site is currently collaborating with Kirkland & Ellis LLP. Sources said the firm’s lawyers will advise Celsius on a variety of issues, including filing for bankruptcy.

According to media reports, the platform had previously discussed restructuring with experts from Akin Gump Strauss Hauer & Feld. At the same time, journalists emphasized that the first goal is to attract capital from investors.

Later, Celsius reportedly hired financial conglomerate Citigroup to find a solution to the problems that arose after the clients’ assets were frozen.

Existing investors of the platform likely agree to the restructuring, but will avoid new investments in the project.

As a reminder, on June 13, Celsius suspended withdrawals, swaps and transfers between accounts.

Attorney Adam Levitin said the company’s bankruptcy was almost inevitable. According to him, the Celsius leadership decided to bet on the “resurrection adventure”.

On July 7, Celsius fully repaid the loan in the MakerDAO DeFi protocol and pulled a total of 23,962 WBTC collateral amounting to ~$490 million. Just a few hours later, the platform transferred 24,463 WBTC to the address of the FTX crypto. exchange.

Learn more about what happened to Celsius on ForkLog cards and how the event impacted the market.

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