TechFlow news, October 8 — U.S. Bankruptcy Judge John Dorsey for the District of Delaware approved FTX's reorganization plan, which will fully repay cryptocurrency customers in cash plus interest.
Under the terms of the plan, 98% of FTX’s creditors (by number of claimants) will receive approximately 119% of their allowed claim amount within 60 days of the plan’s effective date, provided they meet customer identification and other distribution requirements. FTX estimates that the total value of recovered assets, once converted to cash and available for distribution, will range between $14.7 billion and $16.5 billion.
Add to Favorites
Share to Social Media
