Terra: Deadline for Filing Bankruptcy Claims Before August 10

Bittime - Terra stated that the deadline for filing bankruptcy claims for Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) is August 10 2024 at 06:00 WIB.  

Terra Announcement Details

Mvia official social media, Terra officially announces that all claims against TFL arising before January 21, 2024, or claims against TLL appearing before July 1, 2024, must be submitted before the deadline on August 10, 2024. 

All parties who have claims against this company must immediately submit a claim before the specified deadline. That way, creditors' claims can be accepted and processed in accordance with applicable regulations.

File a Claim Before the Deadline

Filing a claim before the deadline is essential to ensure that the claim is considered in the bankruptcy process. 

In the context of bankruptcy law, claims that are not filed on time may be waived, meaning creditors may lose their right to obtain a share of the assets that will be distributed. 

Therefore, all parties who feel they have a claim must immediately prepare the necessary supporting documents and evidence and submit their claim before August 10, 2024.

Cryptocurrency Claim Exclusion

It is important to note that Terra has an excluded cryptocurrency (Excluded Cryptocurrency Claim). And for excluded cryptocurrencies, this deadline does not apply. 

For such claims, separate deadlines will be set later. Terra suggests paying attention to the next announcement regarding this matter so you don't miss it.

Also read: Harga Render (RNDR) Melonjak Bareng WIF, RON, dan MOG

Bankruptcy Process: Critical Phase

This announcement has a significant impact on the Terra community, especially for those who have invested in or have business relationships with TFL and TLL. 

This bankruptcy process marks a critical phase in the company's restructuring efforts, which can influence the value and future of projects and tokens associated with Terra. 

With a clear deadline, communities are expected to prepare well and take the necessary steps to protect their interests.

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