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Crypto Lender Celsius Files to Retain Former CFO to Advise on Bankruptcy Proceedings

·1 min read

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.