News Explorer — FTX Says Reorganization Plan Will Repay 98% of Creditors in Cash
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FTX Says Reorganization Plan Will Repay 98% of Creditors in Cash
The FTX bankruptcy estate has proposed a reorganization plan that would pay out billions more than needed to cover creditor claims. The plan states that 98% of creditors would receive at least 118% of their claims in cash, while the remaining creditors would receive 100% of their claims plus compensation for the time value of their investments. The plan is subject to finalization by the bankruptcy court and comes after 17 months of FTX being under Chapter 11 bankruptcy protection.
The FTX bankruptcy estate has proposed a reorganization plan that would pay out billions more than needed to cover creditor claims. The plan states that 98% of creditors would receive at least 118% of their claims in cash, while the remaining creditors would receive 100% of their claims plus compensation for the time value of their investments. The plan is subject to finalization by the bankruptcy court and comes after 17 months of FTX being under Chapter 11 bankruptcy protection.
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