TechFlow news — FTX officially tweeted that the FTX debtors have submitted their initial reorganization plan and summary of terms to facilitate feedback from creditors and other stakeholders. Key current details include: all non-customer claims (such as those from the IRS) will be subordinated, FTT claims will be valued at zero, and the offshore exchange will be restarted to help close the customer shortfall.
John J. Ray III, CEO and Chief Restructuring Officer of the FTX debtors, said: "Our goal is to reach a consensual plan and emerge from bankruptcy. We are committed to resolving these issues in the third quarter of 2023 and filing an amended plan and disclosure statement in the fourth quarter of 2023."
Add to Favorites
Share to Social Media
