GXD Labs and EquitiesFirst Announce Resolution of Claims Relating to Celsius Bankruptcy Estate
Settlement includes $500 million in payments and dismissal of adversary proceeding and arbitration
Today, GXD Labs, a wholly-owned subsidiary of Atlas Grove Partners, and EquitiesFirst jointly announced a settlement of claims relating to loans made by EquitiesFirst to Celsius Network. The settlement, which includes $500 million in payments, resulted in the dismissal of both an adversary proceeding originally filed in September 2023, and a related arbitration.
“We are pleased to have reached a settlement with EquitiesFirst,” said R Christian Wyatt, Co-Founder and Managing Partner, GXD Labs. “This bespoke, out-of-court resolution is an important milestone for Celsius’s creditors and the bankruptcy estate, and a testament to the rigorous, strategic approach our firm brings to complex asset recovery.”
“We appreciate the collaboration with GXD Labs to put this matter behind us,” said Al Christy, Jr., Founder and Chief Executive Officer, EquitiesFirst. “EquitiesFirst looks forward to continuing to be a leading provider of progressive capital throughout the world just as we’ve done since the firm was founded 24 years ago.”
