Do Kwon's Terraform Labs Files for Chapter 11 Bankruptcy Protection

THE farm complaints has to have between $100 million And $500 million In both estimated assets And passive.

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Do Kwon Terraform Laboratories, THE business behind THE now gone stable coin TerraUSD (UST), has deposit For bankruptcy protection In THE United States.

THE farm Filed for Chapter 11 bankruptcy protection has THE United States Bankruptcy Court For THE District of Delaware, quoting between $100 And $500 million In estimated Liabilities And assets, according to has A Jan. 21 deposit.

Do Kwon's Terraform Laboratories deposit For bankruptcy protections on Jan. 21. Source: CourtListener

"THE Earth community And ecosystem to have watch unprecedented resilience In THE confront of adversity, And This action East necessary has allow We has continue functioning towards OUR collective goals while solve THE legal challenges that stay outstanding," said Chris Amani, CEO of Terraform Laboratories In A separated statement.

"We to have overcome significant challenges Before And, against long odds, THE ecosystem Survived And even grown up In new manners post-depeg; We look Before has THE successful resolution of THE outstanding legal procedure. »

According to has THE court deposit, THE deceased farm has between $100 And $500 million In estimated Liabilities And THE even Rising In estimated assets.

THE bankruptcy deposit come just four days After THE WE. SECOND agreed has postpone Do Kwon's Future fraud trial has March 25, After receive A request has delay THE procedure Since Kown's legal team.

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