FTX has started its second distribution of over $5 billion to holders of allowed claims under its Chapter 11 Plan of Reorganization. This payment is made to claimants in both Convenience and Non-Convenience Classes who have met the required pre-distribution steps. Customers and creditors can expect to receive these funds within one to three business days from May 30. FTX Begins Second $5 Billion Distribution The FTX payout follows a specific priority order, as outlined in FTX’s Plan of Reorganization. Allowed Class 5A Dotcom Customer Entitlement Claims are receiving a 72% distribution of their claims. Meanwhile, Allowed Class 5B U.S. Customer Entitlement Claims are allocated 54%. For Allowed Class 6A General Unsecured Claims and Class 6B Digital Asset Loan Claims, the FTX distribution rate stands at 61%. Notably, Allowed Class 7 Convenience Claims are receiving a 120% payout. This varied distribution reflects the hierarchy and terms set out in the… Read More at Coingape.com
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