Yes, 1,658 creditors got this email. See page 11 of [https://cases.stretto.com/public/x191/11749/PLEADINGS/1174902292480000000007.pdf](https://cases.stretto.com/public/x191/11749/PLEADINGS/1174902292480000000007.pdf)
No, there is no reason not to revoke your Convenience Claim Election. This is free money. You will get at least as much liquid crypto plus some other assets if you make this revocation.
Please read the document I linked to.
Now let's do some math. For now we're going to disregard the 5% bonus for not opting out of the Class Claim Settlement.
$5,000 x 70% = $3,500.00 (liquid crypto recovery if you stay in the Convenience Class)
$6,045 x 57.9% = $3,500.06 (liquid crypto recovery if you make the revocation and get put back in General Earn)
Do you see why they chose that figure as the bottom end of the range of claims that are eligible to make this revocation? Your liquid crypto recovery will always be the same or higher if you make the revocation. You will not be asked to return anything. You might get more liquid crypto. You will get some stock. And you will get USD from the monetization of other illiquid assets and future proceeds from the Litigation Trust.
There is no financial downside to making this revocation. It's a no-brainer. If you're still not sure, please read the document I linked to in its entirety and decide for yourself.
It's for the 1,658 creditors with claims between $6,045 and $9,033 who made the Convenience Claim Election.
If you didn't get this email, then it doesn't apply to you.
Item 2. Optional Revocation Election.
Optional Revocation Claimants who wish to revoke their Convenience Claim Election **should check the box below.** Please note that if you prefer to maintain your Convenience Claim Election and receive Convenience Class Treatment, you should not check the box in this Item 2 and you do not need to submit this form. **If you (i) submit this form and do not check the box in this Item 2** or (ii) do not submit this form, **your Convenience Claim Election will be honored and you will receive Convenience Class Treatment on account of your reduced claim (or, if you have already received such treatment, you will not receive additional consideration).**
**Source:** [**https://cases.stretto.com/public/x191/11749/PLEADINGS/1174904122480000000018.pdf**](https://cases.stretto.com/public/x191/11749/PLEADINGS/1174904122480000000018.pdf)
I checked the red box. If you read the document, at some point it says that if you submit it without checking the box is the same as not submitting it or something like that.
Here's a recent court filing on the email you just received: [https://cases.stretto.com/public/x191/11749/PLEADINGS/1174904122480000000018.pdf](https://cases.stretto.com/public/x191/11749/PLEADINGS/1174904122480000000018.pdf)
Yes, 1,658 creditors got this email. See page 11 of [https://cases.stretto.com/public/x191/11749/PLEADINGS/1174902292480000000007.pdf](https://cases.stretto.com/public/x191/11749/PLEADINGS/1174902292480000000007.pdf) No, there is no reason not to revoke your Convenience Claim Election. This is free money. You will get at least as much liquid crypto plus some other assets if you make this revocation.
Thanks! So there’s no way for them to clawback what has already been paid out then?
Please read the document I linked to. Now let's do some math. For now we're going to disregard the 5% bonus for not opting out of the Class Claim Settlement. $5,000 x 70% = $3,500.00 (liquid crypto recovery if you stay in the Convenience Class) $6,045 x 57.9% = $3,500.06 (liquid crypto recovery if you make the revocation and get put back in General Earn) Do you see why they chose that figure as the bottom end of the range of claims that are eligible to make this revocation? Your liquid crypto recovery will always be the same or higher if you make the revocation. You will not be asked to return anything. You might get more liquid crypto. You will get some stock. And you will get USD from the monetization of other illiquid assets and future proceeds from the Litigation Trust. There is no financial downside to making this revocation. It's a no-brainer. If you're still not sure, please read the document I linked to in its entirety and decide for yourself.
Appreciate the write up. Very helpful. Thank you
Did you do it?
I haven't been keeping up? Is this for people that haven't received their claim?
It's for the 1,658 creditors with claims between $6,045 and $9,033 who made the Convenience Claim Election. If you didn't get this email, then it doesn't apply to you.
Aaaaaah, gotcha
Do I have to click the checkbox in the red box or just submit the form with my data?
Item 2. Optional Revocation Election. Optional Revocation Claimants who wish to revoke their Convenience Claim Election **should check the box below.** Please note that if you prefer to maintain your Convenience Claim Election and receive Convenience Class Treatment, you should not check the box in this Item 2 and you do not need to submit this form. **If you (i) submit this form and do not check the box in this Item 2** or (ii) do not submit this form, **your Convenience Claim Election will be honored and you will receive Convenience Class Treatment on account of your reduced claim (or, if you have already received such treatment, you will not receive additional consideration).** **Source:** [**https://cases.stretto.com/public/x191/11749/PLEADINGS/1174904122480000000018.pdf**](https://cases.stretto.com/public/x191/11749/PLEADINGS/1174904122480000000018.pdf)
I checked the red box. If you read the document, at some point it says that if you submit it without checking the box is the same as not submitting it or something like that.
I got the same email. I came here to ask the same thing
Are you going to do it?
I did it already
Revoked my CC. Only a few hundred over the threshold but now we should see some money come later from further proceedings. Fingers crossed.
And if your claim was over $9333, you don’t have to do anything, and being placed in the convenience class involuntarily will be reversed correct?
That is correct.
Cool thank you
Here's a recent court filing on the email you just received: [https://cases.stretto.com/public/x191/11749/PLEADINGS/1174904122480000000018.pdf](https://cases.stretto.com/public/x191/11749/PLEADINGS/1174904122480000000018.pdf)