US Trustee challenges $5 million claims by parties in Celsius bankruptcy case

• The United States Trustee has raised objections against claims made by several parties asserting their "substantial contributions" to the bankruptcy proceedings of Celsius Network and its affiliates.
• Eleven applicants, comprised of ad hoc groups and individual parties, collectively claim approximately $5 million in expenses, including professional fees, based on their alleged substantial contributions.
• The Trustee argues that these claims lack merit and were primarily in self-interest, without significant benefit to the broader creditor group.
• The Trustee contests specific claims, such as expenses for transportation, meals, and future expenses without clear justification or court review.
• The objection also highlights that certain ad hoc groups' actions were duplicative, unnecessary, and failed to bring demonstrable benefit to the Debtors' estate and creditors.
• BNK To The Future seeks reimbursement for legal costs and expenses related to their agreement with the Debtors and the Committee, subject to Bankruptcy Court approval.

The sentiment of the article is negative, as it highlights objections raised by the United States Trustee against claims made by parties asserting their substantial contributions to the bankruptcy proceedings. The Trustee argues that these claims lack merit and were primarily in self-interest, without significant benefit to the broader creditor group.