I don't understand how that contradicts what I said. CEL token holders are not entitled to any of Celsius' assets, like shareholders or bondholders would be.
That's a separate issue from Celsius owing their depositors CEL as a debt. Those CEL creditors are entitled to Celsius' assets through the bankruptcy process, if Celsius cannot otherwise make good on that CEL-denominated debt.
They just have a lot more more liabilities, thus the bankruptcy.