How long do I have to dispute my Initial Determination?

30 days from receiving it. Without an answer, the determination is deemed accepted. Evidence is due within 60 days of receiving the Initial Determination. Second Look reads your dates from the notice and sends reminders.

Do I need a lawyer to dispute?

Not necessarily for the evidence stage, which is about your own records. For an objection in court, it is sensible to ask your own counsel. TerraClaim is not a law firm and does not give legal advice.

Is a dispute worth it for a small claim?

It depends on how much is at stake against the time and effort. A free Second Look review gives you a view before you commit.

What happens after a Final Determination if I still disagree?

Dispute it in the portal within 30 days, then file an objection with the Bankruptcy Court within 90 days of receiving the Final Determination. From then on it is a court matter.

Disputes

Disputing a Terra claim determination: the path to a Final Determination

If you disagree with your Initial Determination, you can dispute it. The path in the Terraform Labs case runs in stages: 30 days to dispute and 60 days to submit evidence, both counted from receiving the Initial Determination, then a Final Determination by the Plan Administrator. After it, 30 days to dispute it in the portal and 90 days from receiving it to object to the Bankruptcy Court.

9.9% of Initial Determinations are disputed, and the first Final Determinations have been issued; some claimants have objected to theirs in court (Dkt. 1392). This guide walks through each stage, what a dispute costs you in time and options, how to decide whether it is worth it, and what it means if you were thinking of selling.

Facts checked November 15, 2026

The dispute path, stage by stage

Initial Determination. Kroll's Notification of Initial Determination sets your claim's status and allowed amount. What the notice says.
You dispute, within 30 days. You tell the Plan Administrator in the portal that you disagree, within 30 days of receiving the Initial Determination. Without an answer, the determination is deemed accepted.
Evidence, within 60 days of the Initial Determination. You submit the records that support your claim: holdings, transactions, account statements. The 60 days run from the day you received the Initial Determination, not from the day you disputed.
Final Determination. The Plan Administrator reviews the evidence and issues a Final Determination of your claim.
30 days, then the court. If you still disagree, dispute the Final Determination in the portal within 30 days, then file an objection with the Bankruptcy Court in Delaware, in Case No. 24-10070, within 90 days of receiving the Final Determination. At this stage, consider your own counsel.

Your deadlines come from your notice. Write them down the day it arrives, or upload the notice to Second Look for email reminders.

When a dispute can make sense

A dispute is about evidence. It has the most to work with when you can show something specific that the determination missed, for example:

Your records show eligible holdings that are missing from the determination.
The allowed amount is lower than your own records support, and you can document why.
Your claim was expunged for a reason you can now answer, for example information you did not send in time.
The difference is large enough to be worth the time a dispute takes.

What a dispute costs you

Before you dispute, count what it costs you.

Time. 30 days to dispute, evidence within 60 days of the Initial Determination, then the wait for a Final Determination, then a 90-day window to object. Only 146 Final Determinations had been issued by October 2026 (Dkt. 1392), so nobody can tell you how long the whole path takes.
The option to sell. Only Allowed claims can be sold through TerraClaim. A disputed claim cannot be sold until the dispute is resolved.
Effort, and maybe legal fees. Gathering records takes work. If it goes to court, a lawyer's time costs money.
An uncertain result. The Final Determination may leave the number where it was.

Weigh that against what you want. If you want certainty now and can live with the allowed amount, accepting it keeps the option to sell open. If the full number matters more, a dispute may be worth the wait. Sell now or wait lays out both paths.

Get a free Second Look before you decide

Second Look is a TerraClaim service for claimants who disagree with their determination. You upload your notice and get your dispute deadlines, email reminders and a free review of whether a challenge is worth it.

It is a starting point, not legal representation: TerraClaim is not a law firm. For an objection in court, ask your own counsel. Start a Second Look.

Disputes and selling your claim

Disputed claims cannot be sold through TerraClaim while the dispute runs. If the dispute ends with an Allowed amount, you can sell then. Whether a determination is initial or final is one of the things a buyer takes into account, together with the allowed amount itself.

If you are content with your Allowed amount, there is nothing to wait for: an Allowed claim can be sold now. How to sell your Terra claim covers the steps. If your claim was expunged rather than reduced, start with expunged or disallowed claims.

TerraClaim LLC runs a marketplace where creditors of Terraform Labs sell their Crypto Loss Claims to institutional buyers. TerraClaim does not buy claims for its own account, is not a law firm, broker-dealer or custodian, and does not give legal, tax, investment or financial advice. It is not affiliated with Terraform Labs, the Plan Administrator, Kroll, the SEC or the U.S. Bankruptcy Court. Selling a claim is final: the estate may later pay more, or less, than you receive. Consider independent advice before you sell.