- Terraform Labs has set a deadline for filing claims for August 21, 2024
- They have also released a statement specifying the rules for filing a claim
- Submitting claims can anyone who has faced a loss from individuals to corporations
- It is mandatory to show Crypto Loss Proof of Claim
Terraform Labs Pte. Ltd. and Terraform Labs Limited have notified creditors to file cryptocurrency-related claims in their Chapter 11 Plan.
They have set guidelines to adhere to, and the deadline for filing preliminary forms of Crypto Loss Proof of Claim is August 21, 2024.
They have defined the categories required to file, among them:
- Trusts
- Individuals
- Partnerships
- Corporations
- Joint ventures
- Governmental entities
An important point: there are exceptions to the filing of claims, namely those that have been previously filed in substantially similar form, claims already allowed by court order, paid claims, claims between Terraform Labs divisions, and those who have elected not to vote on the plan.
Among guidelines that creditors must meet to be eligible to vote on a proposed Chapter 11 plan:
- Claims must be written in English
- Expressed in U.S. dollars
- Filed through Epiq’s website or by mailing it to Epiq Corporate Restructuring, LLC
- Electronic filing is encouraged, but paper documents are also accepted
An important point again: if a holder fails to file a Preliminary Crypto Loss Proof of Claim, it will not be considered a creditor for voting on the Chapter 11 plan.
