Posted 10/17/2023, 12:30:00 AM
FTX Reaches Settlement with Key Stakeholders on Amended Bankruptcy Plan
- Agreement with Key Stakeholders Paves Way to File Amended Chapter 11 Plan in December 2023
- Customers Expected to Receive Over 90% of Distributable Value Worldwide if Amended Plan is Approved
- Amended Plan to Include an Offer to Settle FTX.com and FTX US Preferences at Specified Amounts
- If Approved, Customer Shortfall Settlement Would Resolve Customer Property Litigation
- Settlement Struck After Months of Extensive, Arm's-Length Negotiations Among Key Parties
