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

Rod Bolger resigned in Celsius in June, two weeks before the company filed a Chapter 11 defense.

  • Celsius Network has filed a request to bring back former CFO Rod Bolger to assist as the company is about to go bankrupt and restructure.
  • Bolger resigned in Celsius on June 30 after serving as the company’s chief financial officer for just five months. The company then filed for bankruptcy protection in mid-July.
  • Bolger – who previously served as CFO at the Royal Bank of Canada – joined C after its predecessor CFO, Yaron Shalem, was arrested in Israel.
  • “The Debtors realized they needed Mr Bolger’s services and expertise as they managed the transition to chapter 11 and began negotiating a way forward,” Celsius’ attorney said in a statement filed in bankruptcy court. “His institutional knowledge and experience regarding the unique features of cryptocurrencies is invaluable.”
  • The proposal requires Bolger to be retained for a minimum of six weeks at a salary of C$120,000 per month.