Currently, there are three pools that are carrying defaults from legacy vaults that were essentially stopped lending at the end of 2022/start of 2023.
They are the TfUSDC, Alameda Credit Private, and TfBUSD pools.
Archblock, its affiliates, and/or subsidiaries have acted as the middle man or agent for these pools. However, with Archblock’s chapter 11 filing, and non-response from the Archblock team (as expected as they are now bankrupt) leave this in the hands of each pool creditor to pursue Archblock in court.
The best is to read the documents in the Stretto website on the bankruptcy in Delaware USA.
https://cases.stretto.com/Archblock
On the tfUSDC pool, the original loans were made from the pool to tfUSDC pool as per the forum post and snapshot:
It seems that TruTrading Asset Management is a full subsidiary of Archblock per the Filing from Michael Bland and Archblock.
Or, otherwise, the terms above for the loan may be construed as a constructive trust by Archblock Group - so the tfUSDC pool are likely (in reality I think of course it is) creditors/claimants to Archblock.
Similarly, Alameda lenders are claimants to Archblock I believe as TruTrading entities facilitated the loans using Archblock entities. The Alameda lenders also should find out if any monies to were paid out to Archblock, as there is a claim from the Alameda estate to Archblock alleging Archblock owes 8.5 million USD.
I think it is really up to the individual holders of the LPs to contact the bankruptcy court in Delaware to lodge or confirm their claims.
As before I think the Truefi Foundation can do little if anything to help the LP Claimants, except keeping this forum active for a while for information purposes.
