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As you may remember, the Plan Administrator filed a Motion on January 15th that explained how the Administrator intends to reconcile the property of Prime Trust account holders. The Motion contained numerous factually incorrect statements and deviated from the Court-approved plan. The deadline for filing Objections was today, and several were filed.

Coinbits's Objection, filed a few days earlier than the others, systematically exposes fundamental flaws in the Administrator's reasoning through a series of strong, straightforward arguments. Remember, Coinbits's attorneys are not your attorneys. Upon reading our Objection you will appreciate our position that Prime Trust account holders have a right to have the property that they held in trust with Prime Trust to be returned to them. Many subsequently filed Objections echo this argument or make similar arguments.

The next step in the case is the omnibus hearing, where the Administrator's Motion will be presented before the Court. The hearing is still scheduled to take place on February 14th, 2025 at 10:00 AM Eastern Time.

If you plan to attend the hearing remotely or in person, it would be a good idea to mark your calendar now.

Having many people who were affected by the Prime Trust bankruptcy in attendance at this hearing will send a message to the Court that the level of interest in the case is high.  

Registration instructions:

Visit https://www.deb.uscourts.gov/ecourt-appearances

Check the box labeled "I do not have a CM/ECF filing account with Delaware Bankruptcy", unless you do.

Fill out your personal information.

The case number is 23-11161-JKS

Check the box to register for the February 14th hearing and continue.

We will keep you posted with any further developments.