TechFlow news: FTX's debtors have revised their settlement motion after the U.S. Trustee previously objected to the earlier filing.
While criticizing the U.S. Trustee as "the only party opposing the motion" and seeking to "intervene in what should be a routine settlement process overseen by the two committees," the debtors stated they would make concessions to address the U.S. Trustee’s concerns.
The revised proposal reduces the cap on unsecured creditor settlements from the previous $10 million to $7 million and requires monthly reporting of executed settlements. Any objections from "interested parties" must be resolved through court order or settlement before creditor proceedings can move forward.
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