The FTX bankruptcy estate will distribute the first installment of funds to creditors before the end of 2024
2024-03-31 17:37:57
According to the minutes of a meeting held by FTX Digital in collaboration with the official liquidators in the Bahamas, the common goal of the liquidators and Chapter 11 debtors is to distribute the first funds to creditors before the end of 2024. The bankruptcy of FTX consists of two parallel independent processes: the bankruptcy protection currently being ruled by the Delaware court in the United States and the official liquidation process of FTX Digital, due to the irreparable mixing of FTX's accounting. However, both parties to the bankruptcy estate have agreed to work together to enable creditors to file claims against any entity and ensure that any compensation received by creditors is not less than their rightful value.
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