BlockFi Creditors Can Now File Proof Of Claims, Deadline April 1

Key Points:

• BlockFi has set up a portal website to file claims, and creditors can submit proof of claims until March 31.
• The information will be submitted through the portal’s website or sent proof of claim by post or courier, but emailing is not accepted.

Cryptocurrency lending company BlockFi has announced the establishment of a website called Kroll, BlockFi’s complaints agent, to receive complaints from users until 5:00 P.M. (prevailing Eastern Time) on March 31, 2023.

The crypto lender that filed for bankruptcy tweeted today: BlockFi clients will receive important information via mail and/or email regarding the proof of claim process from BlockFi’s claims agent Kroll.

Information on understanding the user’s scheduled claim amounts on the platform and instructions on how to fill out the proof of claim form can be found on the Kroll website by selecting Customer Guide to Fill out the Claim Form(s).

Additional information on BlockFi chapter 11 bankruptcy cases, including evidence of the claims process, can be found by visiting the Kroll website.

The deadline for submission of proof of claim is 5:00 P.M. (prevailing Eastern Time) on March 31, 2023.

Currently, the debtor has set up a portal website to file claims, and creditors can submit proof of claim through the portal website or mail proof of claim or courier, but email delivery is not accepted.

Previously, BlockFi filed with the United States Bankruptcy Court of New Jersey on December 19, asking the court to allow customers to withdraw funds from wallet accounts and requesting user update rights. They argued that the move would not affect withdrawals or transfers from the company’s interest accounts which remain suspended.

The company previously received offers from 35 potential partners after filing a legal filing on January 9, according to Francis Petrie of the law firm Kirkland & Ellis.

The company also plans to sell some crypto-mining assets to potential partners after a bankruptcy judge in New Jersey approves the plan.

After the U.S. Government and the debt committee expressed their dissent, Judge Michael Kaplan expressed concurrence saying it was a viable process and was under review for money to debt.

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