FTX filed an amended Plan of Reorganization and Disclosure Statement with the bankruptcy court on May 7 as part of its ongoing case.
The firm has proposed a way to repay creditors between $14.5 billion and $16.3 billion, which it has recovered from selling assets and consolidating funds from various entities. It owes customers and other non-governmental creditors about $11 billion.
This is billions of dollars more than it needs to cover what customers lost when the exchange collapsed in November 2022, and great news for creditors waiting for reimbursement.
FTX Back in The Black
“FTX has achieved this recovery level by monetizing an extraordinarily diverse collection of assets, most of which were proprietary investments held by the Alameda or FTX Ventures businesses, or litigation claims,” it stated in the announcement.
The FTX Debtors today filed their anticipated amended Plan of Reorganization and accompanying Disclosure Statement with the U.S. Bankruptcy Court. Read about it here
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