Are you interested in the Chapter 11 court files?

42

Forum is huge, sorry!
Still fun to learn!

43

The acquisiton took place not even 12 months ago. How shall $100K per month turn in to a $4m claim?

44

I agree maybe there are other loans, maybe is some of the months it was a bigger sum, the court hearing was not very detailed, I don’t have the financials to scrutinize.

45

Actually, it’s not exactly a conspiracy… The bulk is for employee salaries, then for the SNO, then for infrastructure…
They gave the money, but they’re not a charity, so it’s a loan. I don’t know the amount of the Storj acquisition, but I don’t think it compares.

Disclaimer: I don’t have any internal info, it’s my own opinion, not Storj’s one.

46

$4m is a lot of money and nothing for that is left, right? Spent totally in 9 months? Like 450K monthly deficit?

But sure, anything is possible.

48

I’m speculating like you, however, it sounds about right, I saw these expenses over years.
If you have proofs of your thoughts, please, share.

49

During the hearing it was stated that Inveniam has put $150K monthly into Storj. So let’s say they did that for 9 months that means around $1.4m. However their claim is $4m.

50

I see, then I don’t know.

51

NOW THEREFORE, based upon the representations contained in the Motions, and good
and sufficient cause appearing therefore, it is
ORDERED that Debtor’s Motion to Continue Hearing on Final Post-Petition Financing, Use of
Cash Collateral, to Enter Second Interim Order Authorizing Post-Petition Financing, to Use Cash
Collateral, and to Continue Final Hearing and Objection Thereto is GRANTED; and
ORDERED that Final Hearing on the Emergency Motion for Authorization to Obtain DIP
Financing and for use of Cash Collateral shall be held on September 3, 2026 at 1:30 p.m. in the L. Edward
Friend, II Courtroom, 1125 Chapline Street, Wheeling, WV.
ORDERED that the Objecting Party’s objection and any challenge to the Court’s venue
further shall be held at the same time as the final hearing on the emergency motion.

52

Can anyone put this on layman’s terms?

53

They decided it would be OK to make some decisions on Sept 3rd.

54

No decision made, to be continued sept 3… What does it mean for august payment, or september prepayment if you like calling it like that? Will it come at old rates?

55

Doc 87: “PLEASE TAKE NOTICE that the undersigned counsel hereby appears for Vivint LLC”

57

AFAIR, Vivint is one of Storj’s biggest customers. Why did they join this court case? Does Storj Labs owe them too?

58

They could buy Storj and tailor it for their home security footage. And have extra capacity to resell to every-other-person-on-earth that has a security camera that needs to send their stream someplace convenient.

59

It’s all speculation at this point. I’ve watched a number of bankruptcies take place and the statements and filings tend to feel as though there is more to it than it ultimately is. The judge doesn’t manage what happens, they just approve of the filings, hear arguments and may make a judgement to deny, but typically it is expected that creditors will come in and claim damages but that is the point of the bankruptcy to protect the business from those claims. So… We will wait and see what happens. These things can often take longer than expected if there are numerous filings and calls for delay. Storj isn’t a big company though, so it should go quicker than others I’ve witnessed.

60

I’m not a lawyer, but maybe anyone who has a contract with Storj could register for notices or as an interested/affected party. And since canceling their contract might happen as part of the bankruptcy and would affect Vivint’s business, Vivint might object to that or expect compensation.

Vivint paid Storj $130K in July and we don’t know what period of service that covered. If Vivint doesn’t get or isn’t going to get the service they paid for, it seems they would be a creditor.

Did you see where a bunch of Storj employees filed as non-secured creditors in #80? Could SNOs do that? Since the original filing Storj has had an entry for “SNO Liability” of ~$300K but I haven’t read any details about what that covers.

61

  1. I have registered at PACER

  2. They send the activation letter to Germany (Took a week)

  3. Then I have opened a court listener account

  4. Installed court listener browser plugin

  5. Purchased some of the missing documents at PACER

  6. Now more documents are public available

62

Great. Thank you for contributing.