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| Dear Valued Client, We are writing to inform you today, March 15, 2026, BlockFills officially filed a Chapter 11 bankruptcy case in the U.S. Bankruptcy Court. This decision was not made lightly. The BlockFills team has worked tirelessly in pursuit of alternate resolutions. Ultimately, after careful consideration of our circumstances and potential alternatives, Chapter 11 restructuring provides the most orderly and transparent framework to address our obligations, prepare for the return of normal operations, and seek to maximize value for our clients, creditors, and stakeholders. BlockFills continues to hold active discussions regarding a potential restructuring transaction and a path to emerge from bankruptcy with the ad-hoc group of clients coordinated by Cleary Gottlieb Steen & Hamilton LLP, with the maximization of value to our clients and creditors remaining our top priority. However, any plan of reorganization or other transaction will be subject to negotiation with stakeholders and approval by the Bankruptcy Court, and there can be no assurance of any particular outcome or level of recovery. We appreciate your continued patience and understanding throughout this process. If you have any general questions, please direct them to the BLOCKFILLS INQUIRY LINK. Please note, due to legal and practical constraints, our ability to respond will be limited. Sincerely, The BlockFills Team |
