Co-Founder & CEO @foundxyz: we tokenize bankruptcy claims to help our customers unlock lower-cost loans, 24/7 trading, and new investment strategies.
May 24, 2023 • 14 tweets • 3 min read
Should #FTX creditors file a proof of claim ("POC"), even if their bankruptcy claim is scheduled (and they received the Kroll unique ID email)?
Simple answer: Yes, file a POC.
Let's discuss why filing a POC is crucial, particularly for FTX international customers.
🧵👇
2/◉ First, what is a POC? It's a document evidencing your claim against debtor's estate.
It ensures the bankruptcy court and debtor acknowledge your claim, giving you a voice in the process.
But what if your claim is already scheduled (and you got the Kroll email)?
May 11, 2023 • 12 tweets • 3 min read
1/12 Unraveling the IRS Administrative Priority Claim in the #FTX bankruptcy case: how this impacts the restructuring process in a case involving massive fraud.
Writing this because I'm seeing a lot of bad takes that are likely confusing a lot of creditors.
🧵👇
2/12 In the FTX case, with allegations of massive fraud, the IRS claim becomes a critical component of the plan of reorganization.
This claim, due to its priority, can significantly shape the debtor's restructuring roadmap.
