1/ All causes of action Voyager is entitled to bring will be transferred to the Wind-Down Entity. The Wind-Down Entity will investigate all potential causes of action against third parties and pursue litigation for their roles in Voyager’s demise.
https://twitter.com/CryptoKittyyy/status/1616107001997672462
2/ These are known as “estate causes of action.” Only the Wind-Down Entity, not individual creditors, will be able to pursue these claims. Creditors may have direct causes of action that they can bring against third parties.
3/ However, it can be difficult and expensive for individuals to sue third parties for losses. It can also be more efficient for the Wind-Down Entity to bring these causes of action because they may overlap with estate causes of action the Wind-Down Entity is already pursuing.
4/ For example, the estate claims will be pursued against many of the same targets as direct claims. Accordingly, through this mechanism in the voting process, creditors can opt-in to contribute their direct claims to the Wind-Down Entity.
5/ The Wind-Down Entity can use its resources to sue third parties on creditors’ behalf, and all recoveries from those causes of action will be returned to creditors.
6/ For example, imagine that Company A, a billion-dollar company, made a false statement to you that you relied on when you decided to transfer your crypto to Voyager. You (along with other creditors) may have a claim against Company A.
7/ However, it will be expensive for you to bring these claims against Company A (consider the costs of conducting investigations and litigating against a billion-dollar company).
8/ By contributing your direct claim, the Wind-Down Entity will investigate and potentially prosecute these claims on your behalf. Importantly, recoveries from these causes of action will be recovered by the Trust for the benefit of all creditors.
9/ To be clear, the direct claims that creditors can contribute to the Wind-Down Trust are different than their individual claims against Voyager. The direct claims are causes of action against third parties that can be brought through filing lawsuits.
10/ Creditors that contribute their direct claims will still be entitled to distributions, no different than any other creditor.
11/ Creditors that contribute their direct claims will not be contributing claims that they may have in connection with the pending class actions and against directors and officers. Those claims are excluded from the claim contribution mechanism.
12/ Below is a screenshot that provides the complete description of what constitutes a "Contributed Third-Party Claim." 
• • •
Missing some Tweet in this thread? You can try to
force a refresh
