One of the worst events of 2022 Terra It was the collapse. Do Kwon’s second unsuccessful algorithmic stablecoin The trial cost investors billions of dollars. The indirect effects were much more, and even this event had a share in the FTX collapse. Celsius was Terra, the triggers of many bankruptcy, such as 3ac. Today, the request portal for creditors was announced.
Terra creditor request portal
We have recently announced that the second bankruptcy plan has been approved last minute. Afterwards, we said that the demand screen will be created for the creditors and that there will be a process like the FTX return process. Today Terrausd and Terraform Labs, the company behind Luna, announced the request screen after applying bankruptcy in January 2024.
On March 31, the request portal will be opened for creditors. The deadline for crypto loss requests portal records will be April 30 and applications after this date will not be considered.
“KROLL RESTRUCTURING administration Administration LLC (“ Kroll ”) will be opened at Claims.terra.money to send the Crypto Loss Demand Portal (“ Online Portal ”), Crypto loss requests.
If you choose to offer manual evidence (eg processing diaries, account extras and screenshots) to support some parts of your crypto loss request, your request will not receive a first determination in the accelerated timeline specified below, and your request will be subject to individualized examination (as defined below). The plan manager may need additional time to examine your crypto loss request and provide a first detection due to additional resources and time required to verify the accuracy of manual evidence. Since the preferred evidence (including purely read API switches) is the most ready -made evidence support for large exchanges and platforms as well as the most accurate and reliable support for crypto loss demands (because it cannot be manipulated or not), the plan manager, especially if you choose to provide the preferred evidence, may not be allowed to ensure that you will not be allowed to provide. In particular, it is possible that the plan manager will not accept your crypto loss request completely or partially if you provide manual evidence instead of preferred evidence if preferred evidence. ” – Terra Announcement
What should Terra victims do?
The company has cash and derivatives up to $ 500 million to pay. Terraform said that as a part of the restructuring plan approved by the US bankruptcy judge Brendan Shannon, it could be paying between $ 185 million to 442 million dollars. It is unclear how much of this is spent on the expenses of the trial.
Creditors much more, Selection And public receivables are over billions of dollars. However, you can apply for an officially announced address to try your luck.
Ftx He made a priority payment for receivables under $ 50,000, and we are likely to see a similar process here, and if there is such a thing (and if you really lose), what you will do is to try your luck. You should get help by contacting the stock for the API mentioned in the first section.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
