Xclaim

📢 #MtGox Update: Repayment Deadline Extended 📢 The Rehabilitation Trustee announced an extension for #MtGox creditors, pushing the repayment deadline from October 31, 2024, to October 31, 2025. 🗓️ Base, Early Lump-Sum, and Intermediate Repayments have been largely completed as of October 10. For claim buyers and investors, this extension may impact the secondary market. 📊 Could this create more liquidity opportunities in the #claimstrading market? #Xclaim #BankruptcyClaims #MTGOXUpdate #tradeclaims #distressedinvesting

#Genesis Case Update: Genesis Wind Down Debtors Announce Additional Distributions, Increasing Crypto Claim Recoveries On October 31, 2024, Genesis Wind Down debtors filed a notice of subsequent distributions, resulting in increased recoveries for crypto claim holders. 💼 This distribution includes: • BTC claims: +4.69% • ETH claims: +4.96% • Altcoin claims: +4.59% - 5.41% • SOL claims: +4.33% These in-kind distributions present a meaningful uplift for claim holders and could signal future recovery potential. Investors and claim buyers should monitor for ongoing distributions as the Genesis Wind Down progresses. #xclaim #claimstrading #tradeclaims #CryptoAssets #DistressedAssets

#FTX Claim Trading Slows, but Institutional Buyers Remain Active in Market Adjustments Following plan confirmation, FTX claim trading has decelerated, but key institutional players, including Silver Point, King Street, FTXCreditor, and Oaktree, continue to make strategic purchases in the slower market. Notable secondary sales include Hudson Bay to Diameter and FTXCreditor to Attestor. 📈 Additionally, internal transfers at Oaktree and FTXCreditor indicate continued restructuring within their portfolios. As claim buyers and investors navigate this post-confirmation market, monitoring the moves of these large institutions can offer critical insights into future trends. #xclaim #claimstrading #tradeclaims #DistressedInvesting #BankruptcyMarket #InstitutionalInvesting

#YELLQ Restructuring Update: Judge Provides Observations on MEPP Claims Yellow Corp’s restructuring is moving forward with key updates. The Debtors recently filed their 18th-20th omnibus objections to claims and continued lease terminations. In October alone, $21M in claims were transferred. 📊 Notably, at docket #4718, Judge Goldblatt offered preliminary observations on the MEPP claims, setting the stage for a decision on the pending motion to reconsider. Equity investors who filed the motion have until November 4 to file a supplemental brief addressing these observations. For claim buyers and investors, monitoring these developments closely could yield insights into potential claim valuation shifts. #claimstrading #xclaim #tradeclaims #bankruptcy #yellowcorp

FTX Debtors Liquidate $66.1M in Crypto, Cash Reserves Strengthen for Major Payouts In September, FTX Debtors successfully liquidated $66.1M in crypto and received an additional $56.5M in cash—mostly from interest on their $12B cash reserves. These developments position the debtors well to meet convenience class claims and prepare for a substantial interim payment for larger claims. 💼 As FTX moves toward larger payouts, this presents potential opportunities for claim buyers and investors. How do you see these liquidity moves impacting the claim trading market? #xclaim #claimstrading #FTX #tradeclaims #CryptoLiquidation #InvestmentOpportunities #BankruptcyRecovery

#FTX Claim Trading Slows as Institutional Creditors Hold Over $6.1B in Claims In the past month, FTX claim trading activity has significantly slowed, with buyer balances leveling off. Though claims are still being traded, the volume has notably decreased since the confirmation of the plan. Institutional creditors currently hold more than $6.1B in claims. 📊 This plateau in trading activity presents both challenges and opportunities for investors. Let’s connect and explore the possibilities. #xclaim #claimstrading #FTX #tradeclaims #Bankruptcy #DistressedAssets #InvestmentOpportunities #docketdata

FTX #DocketData: Secondary Claim Sales Flat, $18M in Transfers Between Major Players Secondary claim sales for FTX were flat throughout the last month, with approximately $18M in claim transfers taking place between FTXCreditor and Attestor. As we move into post-confirmation, secondary transfers are expected to remain flat until the first distribution for non-convenience class claims is completed. For claim buyers and investors, this signals a potential holding pattern in the short term. Monitoring the first distribution will be critical to understanding future trading opportunities. #xclaim #claimstrading #FTX #tradeclaims #DistressedAssets #InvestmentStrategy

True Value Files for Chapter 11, Do it Best Corp. Named Stalking Horse Bidder On October 15, 2024, True Value Company, L.L.C. and its affiliated debtors filed for Chapter 11 protection in Delaware after battling liquidity issues exacerbated by COVID-19 supply chain disruptions and lender-imposed cash dominion since July 2024. True Value is pursuing a sale of its business, with Do it Best Corp. serving as the stalking horse bidder. The stalking horse bid consists of $153M in cash and up to $45M in assumed liabilities. 🛠️ This sale could provide opportunities for claim buyers and investors to capitalize on distressed assets in the hardware sector. Stay tuned as this sale process unfolds! #BankruptcyAlert #xclaim #claimstrading #chapter11 #TrueValue #HardwareIndustry #DistressedAssets 

The FTX estate’s illiquid assets held steady through August 2024, with no significant sales reported. As the early October confirmation hearing approached, it seemed increasingly likely that any further major sales of illiquid assets will be managed by the wind-down entities after confirmation. 📊 For investors and claim buyers, this suggests that the timeline for asset liquidation and recovery could extend into the post-confirmation phase, with potential opportunities emerging as the wind-down process unfolds. What’s your take on how this might influence claims trading and investment strategies? #FTX #xclaim #claimstrading #DistressedAssets #BankruptcyRecovery #InvestmentStrategy

#YELLQ Case Update: Key Legal Filings and Increased Claims Trading Activity The YELLQ docket saw critical movements this week. The Teamsters filed a sealed reply memorandum in support of their motion for summary judgment, with a brief from the Debtor requesting to exceed the page limit in response. WARN Act claimants also submitted a redacted opposition to Yellow’s motion for summary judgment. Meanwhile, on the trading side, there was notable activity: Jeffries acquired $5M in claims, and Contrarian picked up $813K. With legal and financial dynamics evolving, what do you see as the potential outcomes here for creditors and investors? #xclaim #claimstrading #YELLQ #DistressedInvesting