The FTX bankruptcy restructuring team submitted a revised restructuring plan to the Delaware Bankruptcy Court on 5/7. The plan aims to distribute the assets of FTX at the time of bankruptcy to its global clients and creditors. FTX estimates that the total value of distributable assets currently ranges between $14.5 billion and $16.3 billion. If approved by the bankruptcy court, 98% of FTX’s creditors will receive 118% of their allowed claim amount within 60 days after the plan becomes effective.
FTX Offers 9% Interest on Deposits, Creditors with Debts under $50,000 to Receive 118% of Claim Amount within 60 Days