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FTX claims more than 100 cents

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2024-05-12 00:36:17
Earlier this week, FTX released details about its payment plan and acknowledged that the company will have as much as $16.30 billion available to pay by the end of the bankruptcy case later this year. Court documents show the company owes customers and other non-government creditors about $11 billion. FTX said in court documents that it does not expect anything in return for shareholders.
Claims market data from Cherokee Acquisition shows FTX claims prices in excess of 100. In December 2022, just weeks after FTX fell into bankruptcy, many funds began buying customer account claims from the failed exchange at just 3% of face value. Investors who bought these claims (including Diameter, Farallon and Oaktree) should receive hefty payouts, but there are still potential complications ahead.
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