Celsius Network has reportedly hired a new law firm that will advise it on how to restructure the company's business amid troubles related to outstanding debts.
According to a report from the Wall Street Journal, the troubled cryptocurrency lending firm replaced its lawyers at Akin Gump Strauss Hauer & Feld LLP with Kirkland & Ellis LLP. It is unclear though why Celsius changed its law partner.
Kirkland & Ellis LLP is known as a legal partner for the other troubled crypto company — Voyager Digital. As iHodl earlier reported, Voyager Digital filed for bankruptcy under chapter 11 "to maximize value for all stakeholders."
The firm also engaged with Moelis & Company and The Consello Group as financial advisors, and Kirkland & Ellis LLP as legal advisors for its further "strategic alternatives."
