Stakeholders of Terraform Labs must submit preliminary Crypto Loss Proofs of Claim by August 21, 2024, to protect their voting rights in the bankruptcy case.
Points
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Deadline for submitting Crypto Loss Proofs of Claim is August 21, 2024.
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Claims must be submitted through Epiq Corporate Restructuring’s official website.
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Submissions must
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Submissions must be in English, valued in US dollars as of the petition date, and signed under penalty of perjury.
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Failure to submit by the deadline disqualifies stakeholders from voting on the Chapter 11 plan but does not affect future claims for distributions.
Stakeholders with Terraform Labs Pte. Ltd. （TFL） and Terraform Labs Limited （TLL） need to act quickly to protect their voting rights in the ongoing bankruptcy case. They must submit preliminary Crypto Loss Proofs of Claim by August 21, 2024, at 5:00 PM （ET） to be eligible to vote on the Chapter 11 plan.
Filing Requirements for Chapter 11 Voting Rights
Claims must be submitted through Epiq Corporate Restructuring, LLC’s official website or sent by hand or mail to the designated addresses. Submissions must meet the following criteria:
– Written in English.
– Valued in US dollars as of the petition date.
– Signed under penalty of perjury.
Essential Filing Requirements
Individuals or entities with Crypto Loss Claims against the Debtors before the petition dates must file a claim to vote on the Chapter 11 plan. Exceptions include:
– Those who have already submitted a similar claim form.
– Claims that have been fully settled.
– Stakeholders choosing not to vote on the plan.
Failure to submit the Preliminary Crypto Loss Proof of Claim by August 21, 2024, will disqualify stakeholders from voting on the Chapter 11 plan. However, it will not affect their ability to file claims for future distributions once the plan is confirmed. Adhering to these filing deadlines is crucial for participating in the voting process.
Conclusion
Adhering to the August 21, 2024, deadline for submitting preliminary Crypto Loss Proofs of Claim is essential for stakeholders wishing to vote on Terraform Labs’ Chapter 11 plan. Proper submission ensures eligibility to influence the restructuring plan and protect financial interests.
解説
- Filing timely claims is crucial for maintaining voting rights in bankruptcy cases, ensuring stakeholders have a say in the restructuring plan.
- Detailed submission requirements help maintain the integrity and accuracy of claims, protecting both stakeholders and the bankruptcy process.
- Understanding the importance of these deadlines helps stakeholders avoid disqualification and secure potential future distributions.
- Properly navigating the bankruptcy claims process can significantly impact the financial outcomes for stakeholders involved in the case.