TechFlow news — FTX Trading Ltd. (the parent company of FTX.com) and its affiliated debtors plan to submit a revised reorganization plan by December 16, 2023, to address issues related to disputes over customer property.
This solution aims to resolve customer claims regarding proprietary interests in the assets of FTX.com and FTX US, providing them with unsecured creditor status that is senior to certain specific assets.
The revised plan divides assets into three pools to ensure customers collectively receive over 90% of the distributable value.
In addition, the solution includes a preference resolution opportunity, allowing eligible customers to reduce their claim amounts. It should be noted that the preference resolution is still subject to approval by the bankruptcy court, and details may be subject to change.
