John E Deaton
John E Deaton|Jul 14, 2025 15:05
REGARDING LINQTO: In a Chapter 11 bankruptcy, not all unsecured creditors are asked if they want to be on the Creditors’ Committee. The U.S. Trustee typically selects from the unsecured creditors with the largest claims. With Linqto, there’s a list of the Top 100 claims. Most likely, many of the 100, if not all, received a form, asking if they want to serve on the Committee. There are 13,000 Linqto customers/investors - not all 13,000 will receive a form. If you did not, it doesn’t mean you’re not being included in the bankruptcy. Typically, 5-9 people will serve on the Creditors Committee. The Committee represents the interests of all investors. I have no idea how many of the 13,000 received a form and I have no idea who the Trustee will select to be on the Committee. I imagine the Committee will be selected during the next couple weeks. I’ll let folks know more when I know more.
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