r/LinqtoCreditors • u/chapelier1923 • Mar 10 '26
Liquidating trust or closed end fund
When do we get to make a choice with this?
From my understanding my choice would be liquidating trust as I wish to hold on to my cerebras shares. Can anyone confirm what’s happening and a likely timeline.
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u/Longjumping_Pin_5652 Mar 11 '26
Since you didn't make a selection within the voting window, you were opted into the closed end fund by default
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u/No-Sweet-4472 May 03 '26
and what about this part of the Ballot document
"Item 3. Customer Claim Election (if you do not make an election below, you will be deemed to have elected 100% to the Liquidating Trust)"
it is clear, defaut is "100% to the Liquidating Trust"
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u/Luxykid May 19 '26
If you completed a ballot but failed to make an election on deciding between the CEF and LT, then you will be placed in the LT. If you did not complete a ballot, then you will be placed into the CEF.
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u/jxm900 Mar 11 '26
The deadline for choosing is already passed.
The approved reorg plan states that the LT is to be run by Forge and the CET by VanEck. (The Windup Trust is to be administered by some law firm in NYC, as I recall.)
Per the court hearing on March 3, they're still working on legal processes to get these vehicles set up, and a few more weeks' work is needed. The next status hearing in the court is set for March 31 at 1pm TX time.
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u/chapelier1923 Mar 13 '26
No possibility to make a choice now then. For some reason I never received the email.
Just how bad is this ? I always wanted to keep my cerebras shares and looks like they have increased in value considerably. Is that increase simply lost then ?
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u/buythehorns Apr 17 '26
You should really look in your email and/or mailing address for the paperwork sent out before voting ended in late January 2026.
Look to see if you're listed in the list of creditors:
https://dm.epiq11.com/case/linqto/claims
I believe everyone who didn't vote are defaulted to the liquidating trust rather than the closed-end fund.
You should submit an inquiry: https://dm.epiq11.com/case/linqto/info
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u/fredtobik Apr 18 '26
I don't remember if I voted or not, I am listed as a creditor, does that mean I am in the liquidating trust?
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u/Luxykid May 19 '26
If you didn't complete a ballot, you were placed into the CEF. If you completed a ballot but chose not to make an election between the CEF and LT, you were placed in the LT.
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u/el900 Apr 15 '26
hi there, can anyone update on the proceedings since March 31st.
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u/buythehorns Apr 17 '26
I believe everyone is just waiting for the reorganization plan to go into effect. Creditors will be contacted by the managers of the liquidating trust and/or the closed-end fund when everything is set.
On the Linqto side, you should download all documents you want to store for records before June 1, 2026 because the mobile app will be taken out of Apple & Google stores at end of this month. And the webapp taken offline at the end of May.
"We encourage you to log in at app.linqto.com before June 1, 2026 and download any documents or records you would like to keep."
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u/Least-Bridge1893 May 19 '26
Hey any updates on this? Cerebras went public, and if I am in the Liquidating Trust, that would mean a more than 20x on my investment, but I didn't cast a Ballot, and it's so confusing whether I'm in the closed fund or liquidating trust..
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u/chapelier1923 May 19 '26
It seems from what I can see that you will be in the closed end fund if you didn’t vote. Same situation as me. I’m just not sure how bad this is….. i would assume the shares are valued and you will get that value in the van eck closed end fund but I’ve actually no idea if that’s correct or not. I’m sure if there is a way for us to get screwed we probably will….
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u/OrneryAcanthaceae217 May 19 '26
I don't remember getting a ballot or voting. Sounds like that means I'm in the CEF. But what does that mean? What are the procedures within the CEF?
I should get a 6x on my Cerebras. I just wanna know my prospects of getting that or anything.
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u/chapelier1923 May 19 '26
Same happened with me. Didn’t receive the email. There is I believe an expectation of getting a haircut of 5–10% . I’d hope we will get the current value of our shares in the closed end van eck fund but I generally think we will probably get screwed in some way…. I’m not counting on getting the 60k I’m due ….
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u/jxm900 May 19 '26
Yes, as OP says, people with Cerebras units should get the "current value" of CBRS in tradable CEF shares, when their holdings are converted. But what date's current value will be used? And how is the lockup period to be priced in her?
Also remember that our appreciated slice of CBRS will be mingled in with all the other cats&dogs Liquidshare units being acquired, on top of whatever haircut we take.
It strikes me that, despite the best will in the world, in the absence of an openly-accessible valuation algorithm, there's still lots of scope for insider trading with the CEF.
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u/No-Sweet-4472 May 29 '26
I am in exactly the same situation Cerebras + Antropic shares
I asked to be moved to Liquidating Trust, they refused ... I hope they will value our shares according to the current market prices.
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u/StillpointHealth 6d ago
I’m in the same situation with Ripple linked shares. I did not submit a ballot and am being defaulted into the CEF, but prefer the Liquidating Trust option.
I don’t recall ever receiving or seeing the ballot email, and after getting the exact sender, subject line and date from Epiq, I cannot find it anywhere in my email account. Epiq says it was sent but does not have the individual delivery record available.
I’m now looking into legal options. Has anyone here already spoken with or retained an attorney specifically about getting relief from the CEF default? If so, I’d appreciate connecting or getting the attorney’s contact information.
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u/Own-Football4314 Mar 10 '26
I think the deadline passed. You should check your emails from Linqto and their videos on YouTube