TechFlow, July 22 — According to Cointelegraph, FTX's bankruptcy management team is seeking a Delaware court extension to respond to over 90 objections against its proposal to suspend repayments to creditors in "restricted foreign jurisdictions." The proposal affects creditors from 49 countries, involving claims totaling approximately $470 million, with Chinese creditors accounting for the largest share at 82% (about $380 million).
The FTX team stated that making repayments to creditors in these countries could trigger fines, personal liability, or even criminal penalties. However, numerous creditors have strongly opposed the move, arguing it could render their claims worthless. According to FTX creditor Sunil Kavuri, around $1.4 billion in FTX claims remain unresolved.
