Yield App appoints liquidator Cork Gully LLP 


2 July 2024, 11:40 UTC: We regret to inform you that Yield App has commenced insolvent liquidation proceedings. As part of this process, Stephen Cork and Hadley Chilton of Cork Gully LLP have been appointed as the joint liquidators to oversee the orderly winding-up of Yield App.

The liquidators’ role includes assessing Yield App’s financial affairs, collecting and liquidating assets, and managing customer and stakeholder claims in accordance with legal requirements. Subsequently, all communications concerning liquidation proceedings will now be directed through Cork Gully.

Our priority is to optimise the realisable value from Yield App for all parties and we will ensure that all stakeholders, including creditors, customers, employees, and regulatory authorities are informed and supported throughout the process.

During this challenging period, the liquidators are committed to a robust, transparent and efficient process and will provide regular updates on the progress of the liquidation.

We understand that this news may raise questions, and we encourage customers and stakeholders to refer to the FAQs below for more information about the liquidation proceedings. Customers can also continue to email Yield App through its website support channel.

Sincerely,
Stephen Cork and Hadley Chilton, joint liquidators

For and on behalf of Yield App Limited

Frequently Asked Questions (FAQs) – Yield App Limited (in Liquidation) - UPDATED 5 JULY 2024

These FAQs have been compiled by Yield App’s appointed liquidators from Cork Gully, who will direct all communications from 1 July 2024 until the appointment of a claims administrator that will manage all customer and stakeholder claims. Cork Gully aims to address key concerns that stakeholders may have regarding Yield App's insolvent liquidation, and provide clear and concise information about the process and how it may impact them.

Why is Yield App entering liquidation?

Who is overseeing the liquidation process?

What does liquidation mean for Yield App users?

How will this affect my assets held with Yield App?

Will I still have access to my account and funds?

Can I view my account balance?

Can I make withdrawals, and transfers between my accounts?

If my funds are in a custody wallet, when will they be released?

Will I continue to earn interest on my account?

Where can I receive more information about the liquidation process?

What happens to Yield App's support team during the liquidation?

How can users file creditor claims against Yield App?

How long will it take before I receive my assets from Yield App?

What will happen to my YLD balance and staked YLD tokens?

Will you be providing updates on social media?