I made the biggest mistake of my life and i deposited my  cryptos in the celsius application to earn yield . Or so i thought ....

 

During the  June crypto crash i managed to withdraw a big portion of my crypto back to my wallet from the platform, and suddenly they stopped withdraws at June 12 .

 

Now the company Celsius is under the chapter 11 bankruptcy US law .

Under this law they are preparing to clawback withdraws from users 90 days prior to the bankruptcy filing .

 

My question is without being technical , if the court rules these clawbacks for retail users like me , how can they enforce me such a clawback judgment in Thailand , i am expat NOT US citizen , my wife is Thai. We had both accounts and withdraw in the 90 days clawback period.

 

If someone can recommend a lawyer who is familiar with similar bankruptcy situations and clawback i would like to have a consult .

 

For people who care about crypto, never ever trust again centralized entities and company's with your precious crypto , learn from my mistake, the amount of stress and anxiety i am suffering does not worth any silly little yield these platforms offer , please stay safe with your crypto.

 

Thanks for any response .

 

Unlikely. So long as your withdrawn crypto/money is now moved somewhere safe beyond their reach then what are they going to do? Extradite you to the USA? 

 

They won't do anything... 

 

The noise is over Tether... plebs like yourself only withdrew what you deposited...

Hej thanks for the reply's.

 

Unfortunately plebs like me do not have multi million dollar law firms representing me .

They are pushing for retail clawbacks and it is up to the judge to decide.

The responsible... management of the Celsius company  lost 2.5 Billion in crypto , they file chapter 11 and enjoy immunity from lawsuits, now they use the rest 2 billion from the community money and have hired the BEST law firm in New York representing them.

The court is in New York .

 

But my main question is .

Lets assume the worst case scenario, i do get served a letter of demand or something from the court, how and who can enforce me to pay such a claim in Thailand . (i am not US citizen nor my wife)

Does Thailand has an agreement with the US regarding international delivery service (delivering official letters)
Do they  recognizes and enforces US judgment.

 

Maybe a lawyer can help and answer, i am happy to pay for a consultation but i do not know anyone here , i am an expat and i do not want to freak out my wife .

 

Lastly guys please do not do the same mistake like me and trust any of those centralized CEFI company who promise any yields on your crypto .

If you do put some money always small amounds that you can afford to lose, not the kids college fund like me ....

I am suffering from mental breakdown that starts to take a serious toll on my body ...

Please learn something from my mistake

 

Thanks

 

 

 

I don't know anything about US-TH agreements regarding delivery of the official letters, but do know that Thailand is not a member of the Apostille Convention so any letters verified by Thai notary most likely will not be accepted in US court. Check here:

https://en.wikipedia.org/wiki/Apostille_Convention

 

On 10/1/2022 at 8:57 PM, hko pandor said:

Lastly guys please do not do the same mistake like me and trust any of those centralized CEFI company who promise any yields on your crypto .

Wasn't it obvious already?