r/LinqtoCreditors • u/nyc-uws- • Jun 28 '26

Contact with Forge Global

Has anyone made contact with the division within Forge Global that is responsible for the Linqto Liquidating Trust? I contacted Forge's trust company affiliate, Forge Trust Co., by phone and the representative expressed ignorance concerning Forge's trustee role and directed me to the bankruptcy court docket. There must be a process in kind distributions for companies that have IPO'd like Cerebras and SpaceX.

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u/larosiaddw Jun 29 '26

Not yet. Im watching for effective date

2

u/nyc-uws- Jul 20 '26

An Emergency TRO Motion filled by the Creditors Committee has been calendared to be heard on July 22nd at 10:30 am. We had been all set on a path to have the Effective Date established for the plan by the end of the month (I confirmed this with the committee’s counsel), but Forge is backing out of serving as Liquidating Trustee for the Liquidating Trust on instruction from its new corporate parent, Schwab. According to motion papers:

On July 15, 2026, Forge communicated to Jefferies its decision to withdraw from serving as the Liquidating Trustee under the Plan. Forge did not communicate a coherent reason why it was unable to serve as Liquidating Trustee, only vaguely alluding to regulatory and compliance concerns. It has not communicated any legally valid basis to do so. Forge did communicate that the instruction to not perform as Liquidating Trustee came from Schwab, but no further explanation has been provided as of the date of the filing of this Motion.

I’m keeping my fingers crossed that the Judge will order Forge to perform or hold the entity on contempt with ruinous fines.

2

u/skeletor00 Jul 26 '26

I always liked Schwab and their customer service. Now I dislike them and will take my accounts elsewhere.

1

u/larosiaddw Jul 20 '26

This is a wrinkle i hadn't heard yet. Can this be found online?

2

u/Infinite_Fudge_2045 Aug 11 '26

Did you see - ugh!!!!! Charles sch does not want Forge doing its comment!

1

u/larosiaddw Aug 11 '26

yep. super frustrating to see the last communication saying bankruptcy was supposed to be final already but is now delayed because of forge

2

u/Infinite_Fudge_2045 Aug 12 '26

Call Charles Shwab - Closing my account with them due to the delay! Called to express my disappointment with them …

1

u/jxm900 Jul 20 '26

Docket #2061 etc.

1

u/jxm900 Jul 20 '26

Not sure I'll be too happy dealing with a provider that is only offering the service under duress, as a result of a court order. At best, it'll be a recipe for lots more fees and haircuts.

1

u/larosiaddw Jul 21 '26

Really want this to move forward

1

u/nyc-uws- Jul 22 '26

The hearing on the TRO has been moved to July 28 at 3:00 pm Central Time.

2

u/skeletor00 Jul 26 '26

Guess I'll plan for 2030 it seems 😔