Michael Arrington, the founder of Arrington Capital, has resigned from his position as board member of the new company that will take over the operations of Celsius.
Arrington revealed that Ravi Kava would be replaced on the new company's board. Kava, an investment and advisor at Arrington Capital, is a partner atFahrenheit and an investor and advisor at Arrington's hedge fund, Arrington Capital. A court filing in the U.S. district court today confirmed this change, a court spokesman said.
Despite leaving the board, Arrington said he would continue to support the deal and participate in other ways other than being on the board of directors. He added that he would like to add that he will continue to work with the United States to make the world a better place.
Meanwhile, community members have suggested that Arrington may leave the board due to the addition of Simon Dixon as an observer. Dixon, the CEO of Bnk to the Future, is one of the largest creditors of the bankrupt company. The CEO is one of the leading voices in the bankruptcy process and has proposed measures to help the defunct firm.
Dixon answered in a post on X: ''I do not think we're going to be able to solve this problem'', he said.
A federal court filing on Sept. 24 found that the U.S. had violated the antitrust laws. The trustee objected to Celsius's reorganization plan.
Trustee said the plan for Celsius has released and exculpation provisions that are'release and exculpation provisions'.
Despite the revision recommendations it made to the company, '' overbroad and contain prospective parties and activities''
Trustee said it reserves all rights, claims, arguments, defenses, and arguments based on the facts of the case.
remedies with respect to clarification of the Plan.