• 16 October, 2024
Market News

FTX Reorganization Plan Backed by 94% of Dotcom Creditors

In a recent filing, FTX's restructuring administrator reported that over 94% of creditors in the "dotcom customer entitlement claims" class voted in favor of the reorganization plan, representing approximately $6.83 billion in claims. Nearly 89.1% of U.S. customer creditors and 95.88% of dotcom convenience claimants also supported the plan. Under the bankruptcy plan, around 98% of creditors are expected to receive at least 118% of their claim value. A confirmation hearing is set for Oct. 7.

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