Proof of Claims Filing FAQs:
- Do I need to file a proof of claim? All creditors and customers of BlockFi need to file a claim unless: (1) you have taken a close look at BlockFi’s schedules and see that you are properly identified as a creditor; (2) you agree with the amount identified as what BlockFi owes you; and (3) your claim is not identified as “contingent, unliquidated, ordisputed.” If you are not sure that your claim is properly reflected on the schedules, you should file a proof of claim.
- How can I see if my claim is properly scheduled? BlockFi has set up an online tool to assist claimants to see if and how a claim was scheduled, which can be found here: https://forms.ra.kroll.com/efiling/fr/claim-lookup/blockfi/new
- Is it difficult to complete and return the proof of claim form? No. It is easy to do and should not take up much of your time. The information below walks you through how to do it.
- What is the deadline to file a proof of claim? A proof of claim must be actually received by the Debtors’ claims agent (Kroll) on or before March 31, 2023 at 5:00 p.m. Eastern Time. The Committee strongly advises all customers and creditors to file well before this date, so that you can verify the claim was actually received on time.
- Can the Committee (or its counsel) assist me in filing my proof of claim? Regrettably, no. The Committee and its counsel can only offer general information regarding the claims process and cannot assist any individual customer in filing a proof of claim. The instructions below should make the process easy. You should, however, consult with your own counsel, if you have additional questions.
- What information should I provide on my proof of claim? Customers should assert a claim for all amounts they believe are owed to them by BlockFi, with sufficient explanation of the basis for such claim, plus any supporting documentation. You are not required to agree with the amount BlockFi says that it owes you, and your proof of claim is your way of stating how and why you think BlockFi is mistaken.
- Must I “dollarize” my claim and, if so, must I use the Debtors’ valuation? Claimants are entitled to file claims reflecting their view of what they are owed by BlockFi. This includes filing claims “dollarized” in Question 7a and/or filing “in-kind” claims denominated solely in the cryptocurrency in their accounts in Question 7b. The Debtors have scheduled your claim information utilizing market prices as of the Petition Date and have provided such prices to you in the chart associated with Question 7b. The Committee has not taken a position regarding if claims must ultimately be “dollarized” and, if so, what valuation should be used, and any party may ultimately dispute if claims can be allowed “in-kind” and/or dispute the proper valuation methodology.
- What if I experience technical issues when I try to file by proof of claim? Kroll’s contact information can be found under “Info Center” at this page: https://restructuring.ra.kroll.com/blockfi/EPOC-Index
Proof of Claim Claim Filing Guidelines:
- Customers and creditors can either: (1) fill out and file their proof of claim using an online tool set up by Kroll; or (2) print out a “hard copy” proof of claim form, fill it out in pen, and mail the completed form to Kroll. BlockFi has not set up a filing option by email or by fax. Claims forms that are emailed or faxed to Kroll or BlockFi likely will not be accepted and considered as properly filed.
- The Debtors have created individualized claim forms for BIAs (interest accounts), Wallet accounts, and Loan accounts. Additionally, there is a “general” claim form for all other claims.
- If you have multiple kinds of accounts, fill out separate claim forms for each.
Instructions For Online Claim Preparation And Filing.
1 .BIAs (BlockFi Interest Accounts):
The claims process begins with a requirement to supply your name and email address. Choose an email address that is monitored (i.e. do not use a “throwaway” account).
Following this page, you will be required to consent to certain terms of service. If you decline to agree to these, you should fill out a “hard copy” claim form instead.
Subsequently, you will be asked for an EPOC ID. You may have received this in the mail or by email. If you did, fill it out here. If not, leave this section blank:
Next, the online claim form will ask you questions to identify the Debtor(s) that may be liable for your claim. You can accept the form’s suggestions or assert a claim against other Debtors. Note that the Committee cannot offer advice on the proper Debtor for your claim. An example page is shown below:
Next, the form will ask you to fill out certain information to identify you, as shown below. Question 2 asks if you purchased the claim from another party (before or after the bankruptcy). If you did not, select “no”. Fill out your name, address, and “Customer Identification Number(s)” associated with your BlockFi account(s). Your Customer Identification Number is not required, but providing it will speed claims reconciliation.
For the question titled “Do you have any number you use to identify the debtor?”, note that clients likely do not have a number used to identify BlockFi. Further, note that the filing of the schedules (i.e. what BlockFi has asserted it owes you) does not require answering “yes” to Questions 4 or 5. Answer those Questions “yes” only if there is a specific claim already on file that you are amending or if you are aware that another party has filed a claim for your account.
Finally, you can claim your cryptocurrency on the following page, shown below. Note that the prices listed are automatically filled in by BlockFi. You can, if you believe appropriate, utilize a different valuation methodology to list the value in US dollars for Question 7a, or assert an entitlement to be paid “in-kind” by so noting. If you do so, the Committee suggests you attach a document to your proof of claim (you can upload this at a later point in the process) explaining how you calculated the value of your claim and any additional information supporting that calculation.
You will be asked to provide a summary of the basis for your claim (e.g., “My BlockFi BIA”). Note that space is very limited and, if you assert additional claims or more complex claims than can fit in the text box, you can provide a more detailed explanation in an attachment (and simply write “See Attachment” for Question 8).
Regarding Questions 9 through 12, customers who believe these sections may apply to them will need to consult their own attorney, as these are fact-specific issues.
Finally, you will be required to e-sign your name, as well as identify your relationship to the creditor. If you are filing for your own account, you would select “I am the creditor.” You must also provide your contact information.
As indicated above, you can submit supporting documentation. Note that you can use this feature to upload additional explanation for your claim, as well as to include supporting documentation. You may need to convert your documentation or explanation to PDF and merge all files into a single PDF file.
Following submission, you should receive a confirmation email. If you do not receive a confirmation email within a reasonable period of time, reach out to Kroll at their “Info Center” contacts (right-hand side) on this page: https://restructuring.ra.kroll.com/blockfi/EPOC-Index
2. Loan Accounts
The claims process begins with a requirement to supply your name and email address. Choose an email address that is monitored (i.e. do not use a “throwaway” account).
Following this page, you will be required to consent to certain terms of service. If you decline to agree to these, you should fill out a “hard copy” claim form instead.
Subsequently, you will be asked for an EPOC ID. You may have received this in the mail or by email. If you did, fill it out here. If not, leave this section blank:
Next, the online claim form will ask you questions to identify the Debtor(s) that may be liable for your claim. You can accept the form’s suggestions or assert a claim against other Debtors. Note the Committee cannot offer advice on the proper Debtor for your claim. An example page is shown below.
Next, the form will ask you to fill out certain information to identify you, as shown below. Question 2 asks if you purchased the claim from another party (before or after the bankruptcy). If you did not, select “no”. Fill out your name, address, and “Customer Identification Number(s)” associated with your BlockFi account(s). Your Customer Identification Number is not required, but providing it will speed claims reconciliation.
For the question titled “Do you have any number you use to identify the debtor?”, note that clients likely do not have a number used to identify BlockFi. Further, note that the schedules (i.e. what BlockFi has asserted it owes you) does not require answering “yes” to Questions 4 or 5. Answer those Questions “yes” only if there is a specific claim already on file that you are amending or if you are aware that another party has filed a claim for your account.
Finally, you can claim your cryptocurrency on the following page, shown below. Note that the prices listed are automatically filled in by BlockFi. You can, if you believe appropriate, utilize a different valuation methodology to list the value in US dollars for Question 7a, or assert an entitlement to be paid “in-kind” by so noting. If you do so, the Committee suggests you attach a document to your proof of claim (you can upload this at a later point in the process) explaining (i) how you calculated the value of your claim, (ii) any additional information supporting that calculation, and (iii) any additional assertions seeking return of collateral not otherwise covered in the document.
You will be asked to provide a summary of the basis for your claim (e.g., “return of collateral”). Note that space is very limited and, if you assert additional claims or more complex claims than can fit in the text box, you can provide a more detailed explanation in an attachment (and simply write “See Attachment” for Question 8).
Regarding Questions 9 through 12: Customers who believe these sections may apply to them will need to consult their own attorney, as these are fact-specific issues. Note that, to the extent you owe money to BlockFi, you may have a right to setoff (your loan balance against what BlockFi owes you). If that applies, you should carefully consider consulting with your attorney on this matter.
Finally, you will be required to e-sign your name, as well as identify your relationship to the creditor. If you are filing for your own account, you would select “I am the creditor.” You must also provide your contact information.
As indicated above, you can submit supporting documentation. Note that you can use this feature to upload additional explanation for your claim, as well as to include supporting documentation. You may need to convert your documentation or explanation to PDF and merge all files into a single PDF file.
Following submission, you should receive a confirmation email. If you do not receive a confirmation email within a reasonable period of time, reach out to Kroll at their “Info Center” contacts (right-hand side) on this page: https://restructuring.ra.kroll.com/blockfi/EPOC-Index
3. Wallet Accounts
The claims process begins with a requirement to supply your name and email address. Choose an email address that is monitored (i.e. do not use a “throwaway” account).
Following this page, you will be required to consent to certain terms of service. If you decline to agree to these, you should fill out a “hard copy” claim form instead.
Unlike the previous two claim forms, you will not be asked for an EPOC ID. Instead, next, the online claim form will ask you questions to identify the Debtor(s) that may be liable for your claim. You can accept the form’s suggestions or assert a claim against other Debtors. Note that the Committee cannot offer advice on the proper Debtor for your claim. An example page is shown below:
Next, the form will ask you to fill out certain information to identify you, as shown below. Question 2 asks if you purchased the claim from another party (before or after the bankruptcy). If you did not, select “no”. Fill out your name, address, and “Customer Identification Number(s)” associated with your BlockFi account(s). Your Customer Identification Number is not required, but providing it will speed claims reconciliation.
For the question titled “Do you have any number you use to identify the debtor?”, note that clients likely do not have a number used to identify BlockFi. Further, note that the filing of the schedules (i.e. what BlockFi has asserted it owes you) does not require answering “yes” to Questions 4 or 5. Answer those Questions “yes” only if there is a specific claim already on file that you are amending or if you are aware that another party has filed a claim for your account.
Finally, you can claim your cryptocurrency on the following page, shown below. Note that the prices listed are automatically filled in by BlockFi. You can, if you believe appropriate, utilize a different valuation methodology to list the value in US dollars for Question 7a, or assert an entitlement to be paid “in-kind” by so noting. If you do so, the Committee suggests you attach a document to your proof of claim (you can upload this at a later point in the process) explaining (i) how you calculated the value of your claim, (ii) any additional information supporting that calculation, and (iii) any additional assertions seeking return of collateral not otherwise covered in the document.
You will be asked to provide a summary of the basis for your claim (e.g., “return of wallet funds”). Note that space is very limited and, if you assert additional claims or more complex claims than can fit in the text box, you can provide a more detailed explanation in an attachment (and simply write “See Attachment” for Question 8).
Regarding Questions 9 through 12: Customers who believe these sections may apply to them will need to consult their own attorney, as these are fact-specific issues.
Finally, you will be required to e-sign your name, as well as identify your relationship to the creditor. If you are filing for your own account, you would select “I am the creditor.” You must also provide your contact information.
As indicated above, you can submit supporting documentation. Note that you can use this feature to upload additional explanation for your claim, as well as to include supporting documentation. You may need to convert your documentation or explanation to PDF and merge all files into a single PDF file.
Following submission, you should receive a confirmation email. If you do not receive a confirmation email within a reasonable period of time, reach out to Kroll at their “Info Center” contacts (right-hand side) on this page: https://restructuring.ra.kroll.com/blockfi/EPOC-Index
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