Prime Trust Wind Down

Introduction*

On August 14, 2023, Prime Core Technologies Inc., Prime Trust, LLC, Prime IRA LLC and Prime Digital, LLC (collectively, the “Debtors”) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. The Debtors’ bankruptcy cases are jointly administered under Case No. 23-11161 and are pending before Judge J. Kate Stickles in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).

On December 21, 2023, the Bankruptcy Court confirmed the Debtors’ chapter 11 plan (the “Plan”). The Plan became effective on January 5, 2024. The Plan provides for an orderly liquidation of the Debtors’ assets by the Plan Administrator.

The Plan contemplates that the Plan Administrator will establish this Wind-Down Website to provide certain information to customers, other creditors, and other parties in interest regarding the liquidation of the Debtors’ assets. Among other information, this website will be used to share information with customers about the Plan Administrator’s determinations regarding whether accounts at Prime Trust, LLC and the fiat and cryptocurrency deposited by customers in those accounts are property of the Debtors’ bankruptcy estates or property of the customers under applicable law. Further information regarding these account treatment issues, and the procedures for determining ownership of accounts, fiat and cryptocurrencies, is included in Section 2.5 of the Plan.

Customers, other creditors, and other parties in interest should check this website regularly and/or subscribe to receive updates as additional documents and information are added to this website.

* This summary describes certain terms of the Plan (as defined below), and is not complete. This summary is qualified in its entirety by reference to the Plan, the Findings of Fact, Conclusions of Law, and Order (I) Approving the Disclosure Statement on a Final Basis and (II) Confirming the Amended Chapter 11 Plan of Reorganization of Prime Core Technologies Inc and its Affiliated Debtors Pursuant to Chapter 11 of the Bankruptcy Code, the Disclosure Statement Pursuant to Section 1125 of the Bankruptcy Code with Respect to the Joint Chapter 11 Plan of Reorganization for Prime Core Technologies Inc. and its Affiliated Debtors, and all supplements to the Plan and the disclosure statement.