The post FTX Trading Ltd. Proposes “Customer Shortfall Settlement” in Chapter 11 Case appeared first on Coinpedia Fintech News
Good news for bankrupt FTX customers: FTX Trading Ltd. and its affiliated debtors have unveiled a landmark proposal, the “Customer Shortfall Settlement,” as part of their ongoing Chapter 11 proceedings. This innovative resolution is set to be integrated into an Amended Plan of Reorganization, slated for filing by December 16, 2023. Its approval would mark a significant stride towards concluding the proceedings by mid-2024.
The FTX Debtors estimate that customers of FTX and FTX US would receive over 90% of distributable value worldwide if the Amended Plan is approved by the Bankruptcy Court by the end of the second quarter of 2024.
Future recoveries for customers and non-customers will depend on…
— Wu Blockchain (@WuBlockchain) October 17, 2023
In an attempt to Ease Customer Property Disputes
The contentious customer property litigation, assert
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