Using the natural language processing methods employed by our data science team, the bond similarity tool can locate the description of senior debt and senior secured debt notes, identify all subsections and financial covenants, extract the relevant sections and calculate a similarity score, typically within 10 minutes or less.This helps our analysts and clients quickly surface OMs that they can rely on to understand market trends and anticipate any changes that may occur between the preliminary and final stages of bond issuance. Doc 1132 - Amended Chapter 11 plan. Claim Withdrawal Form During the hearing, lawmakers discussed Silvergate Banks voluntary liquidation this week and disagreed on whether crypto assets should be separated from the mainstream banking system. Restructuring MA WebYou may access the appropriate Account Holder proof of claim form by visiting the case website https://restructuring.ra.kroll.com/blockfi/EPOC-Index. Check out our recent webinar and podcast episodes. 22-19361. BlockFi Quark: Arcano Partners has been appointed to run the sale of Spanish consulting and engineering company Quark, sources told Reorg. Both businesses are based in Hong Kong and have activities in Asia, however Vistras activities in the EMEA region and in the Americas will enable Tricor to expand its focus beyond Asia. Our report includes the following sections: Capital Structure, Forecasts and Leverage Trajectory, Comparables and Industry Dynamics, ESG, Financial Overview, Business Overview and M&A Strategy. Download the Frist Day by Reorg 2022 Year in Review whitepaper here to read more trends and insights into U.S. bankruptcy filings throughout 2022. In ConclusionData scientists are technical experts with a deep understanding of how to develop AI solutions, while SMEs are practice-specific experts who appreciate the utilitarian applications of those solutions. For anyone who was not able to join, this meeting was an opportunity for creditors to ask us about the state of BlockFis financial position and the Schedule of Assets & Liabilities we filed with the Court. What are the restructuring trends, and where are the next set of credit opportunities in Asia? This is a self-moderated topic. "There's a ton of risk when you engage in this, you know, wantonly criminal behavior and steal $200 million from someone else," he said. The team also publishes regular special reports including the First Day Weekly and twice-yearly reports; the Midyear Review and the Year in Review. New York, NY 10163-4850. restructuring 365(o), particularly when the bank was no longer operating); Wolkowtiz v. FDIC (In re Imperial Credit Industries, Inc.), 527 F.3d 959 (9th Cir. Restructuring Congress enacted section 365(o) to prevent institution-affiliated parties from using bankruptcy to evade commitments to maintain capital reserve requirements of a federally insured depository institution. Resolution Trust Corp. v. Firstcorp, Inc. (In re Firstcorp), 973 F.2d 243, 246 (4th Cir. WebDon't just buy bitcoin, earn it. (BlockFi Inc., et al. 15-00571 Committee v BOKF Adversary, Adversary Case No. He plead guilty and was sentenced to two years probation and six months of home detention. And as Santori quips: "Kraken's master account application has not yet been rejected. Last week, as part of our Chapter 11 process, we participated in our 341 Meeting, which is a customary meeting of creditors required for all companies who go through the Chapter 11 process. Proof of Claim. (related document:5 Notice of Amended Agenda for Hearing on May 8, 2023 at 10:00 a.m. (Eastern Time) in support of (related document:828 Notice of Agenda filed by Debtor BlockFi In Order Granting Application to Shorten Time (related document:919 Motion to Seal re: Declaration of Tristan Axelrod with Exhibits.. filed by Creditor Committee O Adv. 23-01144 (MBK) Official Committee of Unsecured Creditors v. BlockFi, Inc., et al., & U.S. of Am. The transaction will cut debt by 740 million and reduce interest costs by 75 million in financial year 2023. 23-01071 (MBK) BlockFi Inc., et al. The email contained a link to https://restructuring.ra.kroll.com/blockfi/EPOC-Index. If youre interested in finding out how a Reorg subscription could help your business, request trial access here. No. 23-01159 (MBK) BlockFi Inc. v. Perez, Solely in his Off. Ultimately, we would like to use our collective wisdom, plus advice from legal experts, to create an Ad-Hoc Committee to ensure that we have a seat at the table in bankruptcy proceedings. This underwriting exercise inevitably brings into focus one very important question: What happens when a holding company of an FDIC-insured bank subsidiary files for chapter 11? The deal comes with significant execution risk and large integration costs. Kroll Restructuring Adv. Case Info; Docket; Claims; Submit a Claim; Quick Links. Neal is the "Snow Crash" author who coined the term "metaverse" and is now working on open metaverse blockchain Lamina1. To access the full range of insights including fee tables, retention tables, debtor and nondebtor engagements, and more download Reorgs Advisor League Tables today. M.D. Kroll Restructuring Administration (formerly known as Prime Clerk) collects your email for the sole purpose of sending you updates on the docket activity for the case you select at the frequency and for the duration that you designate. No. blockfi Relatively low capex also means that free cash flow generation is strong, investors said. Blockfi Adv. Flint Group said more than 75% of first lien debt lenders by value and 90% of second lien debt lenders have acceded to a lockup agreement for its recapitalization deal. If by hand delivery, or overnight courier: 24 Hour Fitness Claims Processing Center. WebWe would like to show you a description here but the site wont allow us. Case SizeTurning to the size of 2022s cases, the year had 21 billion-dollar chapter 11s, 15 of which filed in the second half. For more from Decrypt, visitdecrypt.coand follow@gmdecrypt on Twitter.Be sure to join the gm Telegram room for direct access to our hosts and guests.Hosts and guests:Dan RobertsTwitter: @readDanwriteStacy ElliottTwitter: @stacyannjAnthony ScaramucciTwitter: @ScaramucciPodcast thumbnail art by Grant Kempster, In our latest gm AMA, recent guest Friederike Ernst, Co-founer and COO of Gnosis, hopped into our listener Telegram room and answered questions via voice memo. c/o Prime Clerk LLC (now known as Kroll Restructuring Administration) 850 3rd Avenue, Suite 412. Webhttps://decrypt.co/121208/bakkt-backs-out-of-consumer-business-to-focus-on-b2b-offering. In order to get the maximum amount of activity points possible, you just need to post once per day on average. WebNew York, NY 10163-4850. "Approving the first ever ETH purchase on a public company. Indeed, the application of section 365(o) would have the effect of subordinating other bank holding company creditors to the FDIC on account of the bank subsidiary. (the "Debtors"), Case No. Leveraging The possibility of an economic slowdown remains a focus, as investors wait for signs that the Feds tightening program is taking effect amid expectations that the central bank will hike rates again this year as inflation remains stubbornly high. Reorgs expert team will be examining chapter 11 trends and filing data through 2022. Voluntary Petitions; Case Filing If the above does not work, try reloading the page yourself. WebWe would like to show you a description here but the site wont allow us. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. BlockFi Kroll Restructuring With the distressed debt warning climbing, restructuring and leveraged finance professionals should be aware of Reorgs Restructuring Risk Index (RRRI) and how it can serve their business strategies. Password must match previously entered new password. Create a recurring email based on criteria you specify below. Bankruptcy Code section 365(o), however, creates an exception to the wide berth of discretion that otherwise facilitates the rejection of burdensome agreements, and instead requires the chapter 11 debtor to assume a capital maintenance commitment to a bank subsidiary. WebFirst Day Orders Schedules & SOFA First Lien Bank Debt Notices First Lien Notes Election Form New CEC Common Equity Buyback Notices Buyback Election Procedures QA Order Governing Telephonic Participation in Hearings Case No. Kroll Restructuring Restructuring BlockFi Rewards Credit Card: For more information, please see BlockFis. v. Emergent Fidelity Techs. Kroll Restructuring That is to say, they were early. Clients with questions about the process may call Kroll at (888) 773-0375 (Toll Free) or (646) 440-4371 (International), or email blockfiinfo@ra.kroll.com. CIFI Holdings started negotiating with holders of its over RMB 2B onshore bond to cancel a put option, and Reorg began coverage of Chindata Group. BlockFi Get schooled on the latest in Bitcoin, Ethereum, DeFi, NFTs, DAOs, metaverse, and all things Web3 cultu With the RRRI, you gain the ability to navigate the intricate landscape of the credit market and capitalize on opportunities. You may unsubscribe by clicking the Unsubscribe link at the bottom of the email updates you receive. 15-00131 National Retirement Fund Adversary Proceeding, Adversary Case No. Reddit, Inc. 2023. Reorg also provides updates via our live blog platform, which can be accessed through the live blog portal. See if youre approved with no impact to your credit.***. New York, NY 10163-4850. For information about how to submit a consolidated claim pursuant to paragraph 17 of the Bar Date Order, please contact Kroll Restructuring Administration LLC by calling 844.596.2260 (U.S./Canada Toll-Free) or 646.214.8808 (International), emailing TPCGroupInfo@ra.kroll.com, or by using the Live Chat or Contact Us links on this page. Georgia consumers seeking guidance about their options for how to proceed may wish to consult with their own attorney, as the Department cannot provide legal advice. BlockFi WebJune 30 2023 4:00 p.m. (ET) Proof of Interest Bar Date September 29 2023 4:00 p.m. (ET) Governmental Bar Date FILE A CLAIM ELECTRONICALLY Links to access the Kroll Restructuring Administration's Online Claim and Proof of Interest Filing Portals are available here: Non-Customer Proof of Claim Form Proof of Interest Form 75219 restructuring Western Global Airlines: an Estero, Fla.-based cargo carrier, has hired Weil Gotshal, Evercore and FTI Consulting as legal counsel and financial advisors, respectively, as the company contends with tightening liquidity, a pilot shortage and operational challenges amid the slowing air cargo market. New York, NY 10163-4850. Find out how Reorgs Restructuring Risk Index can boost your prospecting and business development efforts here.Request a trial. The model is trained off of Reorgs unique historical database of in- and out-of-court restructuring events and all public disclosures leading up to those restructuring events. Scan this QR code to download the app now. Kroll Restructuring Logan Group: We dialed into a conference call held by the companys chief restructuring officer, who told investors that Logan aims to distribute a detailed restructuring proposal to all creditors in the next few weeks, and that the terms will feature amortization payments throughout the extended period. One answer lies in an obscure and underutilized provision of the Bankruptcy Code, albeit one with outsized powers, and highlights the potential obstacles bank holding company creditors must overcome in a chapter 11 case where the FDIC asserts its priority to holding company assets for the benefit of the bank subsidiary. v. Green & Elas, Adv. Kroll Restructuring Administration (formerly known as Prime Clerk) collects your email for the sole purpose of sending you updates on the docket activity for the case you select at the frequency and for the duration that you designate. Techs. However, with Reorgs Restructuring Risk Index (RRRI), Reorg has transformed this landscape with a ground-breaking AI-driven solution. The companys bondholders are working with Ducera Partners as financial advisor, and an upcoming $21 million coupon payment in August is in focus. Deadline to File Claims. Weekly highlights from our global intel and expert analysis, Collateralized Loan Obligation (CLO) Data. Jeffrey M. Sponder, Esq. c/o Prime Clerk LLC (now known as Kroll Restructuring Administration) 850 3rd Avenue, Suite 412. 22-01382 (MBK) BlockFi Inc., BlockFi Lending LLC & BlockFi Int'l LLC v. Emergent Fid. Case Info; Docket; Claims; Submit a Claim; Quick Links. BlockFi 23-01116 (MBK) BlockFi Lending LLC v. PrimeBlock Operations LLC. Webc/o Prime Clerk LLC (now known as Kroll Restructuring Administration) Grand Central Station, PO Box 4850. You must file an originally executed proof of claim. We work with clients through every step of their restructuring, no matter the complexity, size, or industry. Grand Central Station, PO Box 4850. ALL PRIME CLERK URLS AND EMAIL ADDRESSES ARE AUTOMATICALLY REDIRECTED. Yet another email from BlockFi, confirms the deadline for filing Proof of Claim is set to 31 March 2023. Kroll Restructuring WebKroll Restructuring Administration (formerly known as Prime Clerk) collects your email for the sole purpose of sending you updates on the docket activity for the case you select at the frequency and for the duration that you designate. The debtors state that they enter bankruptcy with approximately $256.5 million of unencumbered cash and anticipate that this cash will be sufficient to fund the costs of the chapter 11 cases, indicating that they do not intend to seek approval of DIP financing at this time. As detailed below, the BlockFi debtors take pains in their first day papers to distinguish their corporate governance and operating procedures from those that have come to light in the FTX cases. The combination of these skill sets serves to generate outcomes that can improve accuracy, save time and drive innovation. WebWe would like to show you a description here but the site wont allow us. By discussing the overall goals of the project at the outset, SMEs and data scientists can propose and test hypotheses that neither may have thought of alone. Access is limited to Zayo lenders, bondholders or parties under an NDA. Governmental Bar Date: May 30, 2023. They can also institute a common vocabulary and employ constant communication to ensure that objectives are aligned. 15-06504 Debtor Appeal re Stay of Prepetition Litigation, ILND Case No. Additionally, depending on the type of model and feedback loop in action, the outputs can improve and evolve over time. 681(I), 101st Cong., 2d Sess. For additional information on these cases or to submit a claim, please go to https://restructuring.ra.kroll.com/blockfi/Home-Index. WebPRIME CLERK IS NOW KROLL RESTRUCTURING ADMINISTRATION. c/o Kroll Restructuring Administration LLC. From the snapshot in November vs current crypto prices, Scan this QR code to download the app now. Kroll Restructuring Reading through and synthesizing 400+ pages of an OM is a time-consuming task that requires concentration and fastidiousness. ; Reload this page.Note that you will lose any unsaved changes. Any other relevant information would be great. Inflation and supply-chain issues were running themes for 2022s chapter 11 filers. He founded crypto exchange Bitmex in 2014 and then became the original crypto bad boy. Notice of Bar Dates for Submitting Proofs of Claim and Claims Under Section 503(b)(9) of the Bankruptcy Code Against the Debtors. Read more. He discusses his frustration with SBF, how wrong he thinks politicians like Elizabeth Warren and Gary Gensler are about crypto and how to regulate it, what he sees happening next with adoption, and we even talk a little Trump. https://decrypt.co/121260/judge-halts-sec-cftc-cases-until-bankman-frieds-criminal-trial-concludes, https://decrypt.co/121253/layoffs-hit-solana-nft-marketplace-magic-eden-sheds-22-employees, https://decrypt.co/121238/lacma-art-museum-nft-donation-cryptopunk-art-blocks, https://decrypt.co/121243/ordinals-gain-momentum-with-76000-nfts-minted-to-bitcoin, https://decrypt.co/121228/trump-nfts-mooning-again-here-whats-going-on, https://decrypt.co/121225/paxos-says-its-prepared-to-vigorously-fight-sec-lawsuit, https://decrypt.co/121208/bakkt-backs-out-of-consumer-business-to-focus-on-b2b-offering, https://bitcoinist.com/company-snitched-binance-advantage-stablecoin-race/, https://restructuring.ra.kroll.com/blockfi/EPOC-Index, , Say Good Night by Joakim Karud https://soundcloud.com/joakimkarud, Creative Commons Attribution-ShareAlike 3.0 Unported CC BY-SA 3.0, Free Download / Stream: http://bit.ly/2RzhBOn, Music promoted by Audio Library https://youtu.be/SZkVShypKgM, Financial Disclosure: Matthew Aaron is a holder of cryptocurrencies, digital assets, and other stocks., *** this is not financial or legal advice***, Copyright 2023 Decrypt Media All Rights Reserved, For a while there, Adidas Web3 lead Erika Wykes-Sneyd worried her push to get the 74-year-old brand working with Web3 partners might not work out. 11 U.S.C. c/o Kroll Restructuring Administration LLC. Public filings are available at: https://restructuring.ra.kroll.com/blockfi. The Bankruptcy Court has set the following deadlines for filing proofs of claim: General Claims Bar Date: March 31, 2023. 07102 Full message below with the most important part highlighted. 850 3rd Avenue, Suite 412. Privacy Policy. Kroll Please find below links to the following important documents, related to the bankruptcy proceedings of BlockFi Inc., et al. Learn more. In addition to its exchange offerings, BlockFi also functions as a crypto bank, offering loan services and interest-bearing accounts to retail and institutional clients. Puerto Rico Electric Power Authority: The judge overseeing the Title III restructuring of the Puerto Rico Electric Power Authority, or PREPA, delivered a critical opinion on bondholder liens ahead of a confirmation trial scheduled for July. 08608 NOTICE OF BIDDING PROCEDURES, POTENTIAL As a general matter, Bankruptcy Code section 365 empowers a chapter 11 debtor with the sacred right to assume or reject executory contracts and unexpired leases. 13 Feb 2023 21:17:07 Advisor mandates are also increasing, as the impact of higher rates on floating-rate debt saps cash flows. In 2022 there was an 18% increase in filing frequency from the first half to the second half, with December being the busiest month of the year. U.S. Digital currency values are not static and fluctuate due to market changes. of Banking, https://www.justice.gov/ust-regions-r03/region-3-district-new-jersey, Amended Schedules Bar Date: June 14, 2023 at 5:00 p.m. (ET). Where does that extra money go? 6472, 6585). 850 3rd Avenue, Suite 412. 121). These Chapter 11 cases will enable BlockFi to stabilize the business and provide BlockFi with the opportunity to consummate a reorganization plan that maximizes value for all stakeholders, including our valued clients. WebWe would like to show you a description here but the site wont allow us. PRIME CLERK IS NOW KROLL RESTRUCTURING ADMINISTRATION. The financials sector driven by crypto led these cases, accounting for one third of the total. [emailprotected]. BlockFi Bankruptcy - Creditors Thread Updates & Help -Lets get some funds back, https://restructuring.ra.kroll.com/blockfi, Re: BlockFi Bankruptcy - Creditors Thread Updates & Help -Lets get some funds back, https://restructuring.ra.kroll.com/blockfi.Clients, https://restructuring.ra.kroll.com/blockfi/EPOC-Index. Read more. We also interviewed Chris Maloney from Bank of Oklahoma Capital Financial Markets about mortgage-backed securities and their significance in SVBs collapse and banking. 15-00149 Adversary to Stay Prepetition Litigation, ILND Case No. Cookie Notice We can also make connections between those sponsors and the law firms they hire. Earn rewards in Bitcoin, Ethereum, and more with the BlockFi Rewards Credit Card. General Bar Date: March 31, 2023, at 5:00 p.m. (prevailing Eastern time). To file a proof of claim electronically, please enter the creditors name and an email address (where filing confirmation will be sent) in the fields below. You may unsubscribe by clicking the Unsubscribe link at the bottom of the email updates you receive. Editors Note: Below is the latest in Reorgs Expert Views series: an article written by Martin J. Bienenstock and Vincent Indelicato of Proskauer Rose LLP. If by overnight courier: PG&E Corporation Claims Processing Center. You may unsubscribe by clicking the Unsubscribe link at the bottom of the email updates you receive. Including PIK interest of 61.5 million, total interest amounted to 129.9 million.
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