- **BlockFi's Chapter 11 Bankruptcy Protection**: #cryptocurrency lending platform #BlockFi has commenced the voting collection phase for its Chapter 11 #bankruptcy protection plan. This step is part of the company's efforts to address its financial challenges and restructure its operations.
- **Voting Period and Deadline**: The voting #collection period allows eligible creditors to participate in the decision-making process regarding BlockFi's bankruptcy protection plan. #Creditors have the opportunity to cast their votes on the plan through the Kroll website. The deadline for submitting votes is set for 4:00 PM Eastern Time on September 11, 2023.
- **Eligibility and Instructions**: Eligible creditors will receive comprehensive instructions on how to participate in the voting process. These instructions will include details about voting eligibility criteria and guidelines on how to properly complete and submit their ballots. The instructions will be communicated to creditors via email from Kroll.
- **Creditor Participation**: The voting process is a crucial step in determining the outcome of BlockFi's bankruptcy protection plan. Creditors' active participation in casting their votes will shape the direction the company takes to address its financial situation and plan for its future operations.
- **Bankruptcy Restructuring Efforts**: BlockFi's engagement with creditors through the voting collection period reflects its dedication to finding a suitable solution to its financial challenges. By involving creditors in the decision-making process, the company aims to navigate its bankruptcy proceedings while ensuring transparency and considering the interests of stakeholders.