Babel Finance Hires the Legal Partner of Celsius and Voyager for Company’s Restructuring

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Babel Finance, one of the largest crypto lenders in Asia, has engaged law firm Kirkland & Ellis to advise on the restructuring, Bloomberg reports.

To oversee the process, Babel co-founder Flex Yang, who retired last year, has returned to the Hong Kong-based company.

We should note that Kirkland & Ellis has also been recruited by the struggling landing platform Celsius Network and broker Voyager Digital. The law firm, which has approximately 2,600 professionals, is considered a leader in its field in terms of refunds.

Babel has previously engaged financial firm Hulihan Lokey to look for restructuring options.

The company announced last month the suspension of payments and withdrawals from its own products due to lack of liquidity.