Storj Labs entered Chapter 11 to address what it calls legacy obligations while keeping its core distributed-storage business running. The network remains online.
The network remains online during Chapter 11
The company says it expects to operate in the ordinary course and does not anticipate customer interruptions. Financing, claims and asset decisions will still move through bankruptcy court and may alter that plan.
Storj also discussed a possible ownership path involving management, investors and token holders. The announcement does not establish terms, eligibility or court approval.
The filing
- Court
- U.S. Bankruptcy Court, Northern District of West Virginia
- Case
- 5:26-bk-00512
- Process
- Voluntary Chapter 11 reorganisation
Operations and unresolved claims
Network operations
Storj says ordinary service will continue, subject to the court process.
Legacy obligations
The filing is intended to restructure them; final treatment is not yet set.
Token-holder proposal
No approved equity terms or eligibility rules have been published.
STORJ is not a bankruptcy claim
STORJ can remain transferable while the company restructures. Token ownership does not create the rights attached to a bankruptcy claim or common stock.
Next reporting
- Court approval of first-day motions and operating arrangements.
- Any sale or disposition of non-core operations.
- Filed terms, if any, for token-holder participation in the reorganised company.