Linqto Texas, LLC

Linqto Texas and its affiliates entered the implementation phase of their Chapter 11 liquidation plan on October 27, 2026, as reported in the effectiveness notice Dkt. 2185. The next material work is administering claims and carrying out the plan’s arrangements for customer securities and creditor recoveries.

Linqto Texas, LLC and its debtor affiliates reached effectiveness of their modified Chapter 11 plan on October 27, 2026, according to the effectiveness notice Dkt. 2185. The court confirmed the joint plan on February 13, 2026, and the notice reports that the court approved a subsequent modification on October 23. The plan provides a path to liquidate estate assets and address customer and creditor claims. Confirmation order Dkt. 1598.

Linqto offered individual investors indirect economic interests in private-company securities through its Liquidshares platform. In its first-day declaration Dkt. 10, the debtors’ chief restructuring officer reported that management had found defects in the formation and operation of the investment series, including failures to transfer securities as contemplated by governing documents. The SEC had notified the company of an investigation in October 2024, and Linqto suspended the platform on March 13, 2025. Linqto Texas and three affiliates filed Chapter 11 petitions on July 7, 2025; their cases were jointly administered. Joint administration order Dkt. 21.

The confirmation order Dkt. 1598 describes a wind-down trust to monetize reserved securities and retained claims and reconcile general claims, a liquidating trust to hold platform securities for customers, and a closed-end fund intended to provide liquidity for electing customers. Customer claims are to receive interests in the liquidating trust or shares in the fund, while general unsecured and deficiency claims are to receive interests in the wind-down trust waterfall. Implementation and claims administration are the material next steps.

During the case, the court authorized a private sale of certain Ripple Labs shares to Galaxy Digital Ventures in a July 1, 2026 sale order Dkt. 2007; the order establishes authorization, not completion. Separately, the plan supplement Dkt. 2184 describes approximately $27,836,672 in DIP obligations, including $25,628,941.98 to be paid with specified platform securities and the balance in cash on or before effectiveness.

On November 6, 2026, the bankruptcy clerk transmitted an appeal record Dkt. 2198 to the district court. The notice sets out the applicable briefing sequence but does not identify the subject of the appeal.