Nearly two years after cryptocurrency exchange FTX filed for bankruptcy, a U.S. Bankruptcy Court Delaware judge has approved FTX’s reorganization plan, and 98% of FTX’s creditors will receive approximately the amount of their allowed claims within 60 days of the plan’s effectiveness. 119% USD Back.

FTX expects the total value of the properties collected, converted to cash and available for distribution to fall between $14.7 billion and $16.5 billion, according to an official press release. The amount includes assets under the control of the Chapter 11 debtors as well as assets under the control of FTX Digital Markets, Ltd. (Bahamas), the joint official liquidators, FTX Australia’s administrators, the U.S. Department of Justice and dozens of private participating institutions. FTX will separately announce the program’s effective date and expected first distribution date.

John J. Ray III, CEO and head of restructuring at FTX, said:

We are preparing to return 100% of bankruptcy claims plus interest to non-governmental creditors through the largest and most complex bankruptcy estate distribution in history, with distributions to creditors in more than 200 jurisdictions around the world. We are finalizing our agency agreements to return funds to clients around the world as safely and quickly as possible.

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