By Soma Biswas

A group of customers of bankrupt crypto lender Celsius Network LLC filed papers asking the judge overseeing the chapter 11 case to shorten the amount of time the company has to formulate an exit plan to two months in light of the latest events in the crypto industry.

Celsius is seeking to push out a deadline to file its reorganization plan to March 31, 2023, from Nov. 11.

"Given the status of these cases and the events that are transpiring in the cryptocurrency world on a daily basis" the customers believe the additional 141 day requested should be reduced to 60 days, according to the court filing by the customer group on Monday.

An additional 60 days will be enough time to determine if Celsius' assets can be sold, the group also said. Moreover, the group urged Celsius to foster communications between retail customers and interested buyers.

Write to Soma Biswas at soma.biswas@wsj.com


(END) Dow Jones Newswires

11-29-22 1218ET