Poolin Technology and several affiliates filed for Chapter 11 bankruptcy on July 22 with two proposed asset sales totaling $52 million tied to West Texas mining sites. The company’s 11,700 wallet creditors are still waiting to recover $163.7 million in IOUs issued during the 2022 liquidity crisis. Prospective buyer Thor CALAP LLC can terminate either deal through Aug. 9, with the court scheduled to rule on bidding procedures and the sale on Aug. 14. Recovery amounts will depend on how sale proceeds are allocated across the separate debtor estates, as the Texas assets and wallet IOUs are held in distinct legal entities.
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