FTX to submit revised reorganization plan in mid-December
Bankrupt, defunct exchange FTX is preparing to present an updated reorganization plan to the court in mid-December.
The Official Committee of Unsecured Creditors has written a reply to the FTX 2.0 Customer Ad Hoc Committee, providing insights into the details of its proposed amended reorganization plan. Scheduled for mid-December, this event is expected to reshape the fate of unsecured creditors.
As its bankruptcy proceedings progress, shuttered exchange FTX is preparing to present an updated reorganization plan to the court in mid-December.
Recognizing differing perspectives on asset valuation and distribution, the Official Committee, in the letter, highlighted the proposed plan’s capacity to maintain a balance among stakeholders’ interests.
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Author: Amaka Nwaokocha
