Terra sets August 9, 2024, as the General Bar Date for filing bankruptcy claims involving TFL and TLL.
Claims predating January 21, 2024, for TFL and July 1, 2024, for TLL must be submitted by the deadline.
Excluded Crypto Claims will have a separate deadline, ensuring equitable treatment in the proceedings.
Blockchain project Terra has announced a crucial deadline for those seeking to file claims related to the bankruptcies of its development firms, Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL). Claimants have until August 9, 2024, to ensure their voices are heard in these pivotal legal proceedings.
1/ Important Notice for the Terra Community:The General Bar Date for filing claims in the Chapter 11 bankruptcy cases of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) has been set to August 9, 2024, at 5:00 p.m. (ET).
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) July 15, 2024
This date marks the final opportunity for claimants to submit their claims for consideration in the ongoing bankruptcy proceedings. Terra stressed the importance of meeting this deadline to ensure that claims are properly reviewed and processed.
According to Terra’s detailed message, claims related to Terraform Labs Pte Ltd made before January 21, 2024, and those related to Terraform Labs Limited made before July 1, 2024, can be submitted before the General Bar Date, August 9th. Missing this deadline may result in claims not being considered in the bankruptcy proceedings.
According to Terra’s detailed message, claims about Terraform Labs Pte Ltd before January 21, 2024, and about Terraform Labs Limited before July 1, 2024, can be submitted before the General Bar Date. If you miss this deadline, your claims may not be considered in the bankruptcy proceedings.
The platform emphasized the importance of claimants understanding the requirements and procedures outlined for claim submissions. Terra has committed to informing affected parties directly about the specifics of the claims process, urging them to take proactive steps to ensure the timely and proper filing of claims.
Importantly, Terra clarified that claims categorized as “excluded crypto claims,” as defined in the official bar date notice, are not subject to the General Bar Date. Instead, a separate deadline will be established specifically for such claims, ensuring fair treatment in the bankruptcy proceedings.
Terra’s announcement regarding the General Bar Date for bankruptcy claims submission reflects its commitment to transparency and adherence to legal processes. Claimants have been urged to promptly review the provided guidelines and take necessary actions to safeguard their claims in these pivotal legal proceedings.
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