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infinitematrix @owlofthematrix on x XXX followers
Created: 2025-07-23 17:31:36 UTC
I was just working on that :))) Depending on where you held your shares we may need to do a POI.
First this..it won’t hurt don’t listen to people who say it doesn’t matter. I feel like people who drs will have to do more imo.
I will put that info at the bottom.
📅 Did you have to buy before September 14, 2023 (Confirmation Date – Docket 2172)?
✅ No — but timing matters. You did not need to own shares before the confirmation date (9/14/23), but you may need to prove ownership before the “record date” set by the Trust once distributions begin.
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🔍 Here’s what matters more:
X. Confirmation Date (Sept 14, 2023) •This was when the court legally established the Trust and its structure. •It did not trigger a cutoff date for ownership — it simply created the vehicle for future distributions.
X. Record Date (To Be Determined or Announced) •The Trustee (once active) will set a “record date” for who is eligible to receive distributions (cash, equity, etc.). •If you’re holding BBBYQ or synthetic shares tied to Class 6/9 before that record date, you may be eligible. •You can still qualify now — no public cutoff has been declared yet.
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🧠 Bottom Line: •🛑 You didn’t miss your shot just because you bought after Sept 14, 2023. •📜 The actual cutoff will come once the Trust is actively distributing — and that’s likely tied to clawbacks, waterfall triggers, and possibly the $XXX Amazon derivative. •🧾 Keep records of when you acquired your shares (including proof from your broker) — this may be essential.
🔍 What happened with Hertz (HTZ) shareholders: •In the Hertz bankruptcy case (2020–2021), equity ended up being worth something, even though it was initially considered worthless. •The company set up a recovery Trust to distribute the value back to shareholders. •Only those who filed a valid Proof of Interest (POI) — essentially proving ownership of shares at the correct time — were able to receive distributions (e.g. cash, stock, or warrants). •Many retail investors missed out entirely because they did not submit a POI or had no verified claim.
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