Terraform Labs: Creditor claims portal launched on March 31, with a maximum compensation of $500 million

avatar
ODAILY
03-28
This article is machine translated
Show original
Planet Daily News: The blockchain company Terraform Labs, which has filed for bankruptcy, announced that it will officially open the crypto creditor claim application channel on March 31, with the claim deadline set for April 30. According to the company's claim guidelines, creditors need to submit proof of asset holdings, including wallet addresses and exchange API keys. If using "manual evidence" such as transaction records, they will face a longer review cycle. The company promised in its court-approved restructuring plan from September last year to pay creditors between $185 million and $442 million in compensation, with funds sourced from a $4.47 billion settlement agreement with the SEC. Notably, the SEC has agreed to prioritize payment to ordinary creditors over regulatory fines. This claim involves investors who suffered losses in the $40 billion Terra ecosystem collapse in 2022. ()

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments