#TerraformLabs Reveals Key Update On Crypto Loss Claims Voting
Terraform Labs Issues Notice to Creditors for Crypto Loss Claims
- Terraform Labs Pte. Ltd. and Terraform Labs Limited have issued a notice to creditors for filing claims related to cryptocurrency losses as part of their Chapter 11 bankruptcy proceedings.
Key Filing Dates
- Creditors must submit their Preliminary Crypto Loss Proof of Claim forms by August 21, 2024, to be eligible to vote on the Chapter 11 Plan. This is essential for participating in the restructuring process & potentially receiving distributions from the crypto loss claims pool. Terraform Labs filed for Chapter 11 bankruptcy on January 21, 2024, and July 1, 2024.
Adhering to the filing guidelines is crucial to avoid exclusion from voting.
Eligibility & Criteria
- Creditors who suffered losses from dealings with Terraform Labs before the petition dates must file a claim to vote on the Chapter 11 Plan. This includes all types of claims—contested or uncontested, liquidated or unliquidated, actual or potential. Claims can be filed by individuals, partnerships, corporations, joint ventures, trusts, & government entities. Exceptions include previously submitted claims, claims allowed by court order, paid claims, inter-Terraform Labs claims, & those not wishing to vote.
Submission Guidelines
- Claims must be filed in English & U.S. dollars, under penalty of perjury. Submit electronically through Epiq’s website or by mail to Epiq Corporate Restructuring, LLC. Facsimile, telecopy, or email submissions are not accepted. Missing the deadline excludes you from voting on the Chapter 11 Plan. The General Bar Date for claims is August 9, 2024.
LUNC & USTC Price Trends
- Terra Classic ($LUNC ) has shown a bearish trend, trading between $0.00009209 and $0.00008823 over the last 24 hours, with a current price of $0.00009057, down 0.31%. In contrast, $USTC has experienced a bullish trend, fluctuating between $0.02138 and $0.01974, with a current price of $0.02039, reflecting a 0.75% increase.
Source - coingape.com
