O’Melveny Worldwide

Law360: Celsius Ch. 11 Ruling Reminds Clear Contract Terms Govern

February 1, 2023

O’Melveny partner Evan Jones, counsel Laura Smith, and associate Emma Persson co-authored this article focusing on terms used in contract agreements, specifically those in Celsius Network LLC’s Chapter 11 case. “Parties in any transaction should not assume that the boilerplate — whether a make-whole in a note, a subordination provision in a credit agreement, or terms and conditions in a customer agreement — will be acceptable,” the authors wrote. “And when parties are involved in transactions and agreements not governed by complex regulation or market standard terms, they should exercise even greater caution.”

Read the full article here.