Beleaguered crypto exchange FTX has further revealed the schedule for $16 billion in creditor repayments. Experts revealed early February as the expected timeline for the first repayment in accordance with the Plan and Confirmation Order. Also, the bankruptcy reorganization plan aimed to disburse repayments for small creditors first.
FTX Repayments To Start in February
FTX creditor Sunil Kavuri in an X post on January 12 revealed details of repayments, including the initial distribution schedule and first repayment. According to the plan, the first round of repayments will happen for creditors with claims below $50,000. This makes it a total of approximately $1.2 billion, with January 3 as the record date.
FTX has asked creditors to complete pre-distribution requirements for initial distribution by January 20. Creditors are informed to complete W-8Ben forms. Once KYC verified, creditors need to submit a tax withholding form within 30 days. It is important to note that if a creditor fai
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