According to BlockBeats news, Judge John Dorsey of the U.S. Bankruptcy Court of Delaware has approved FTX cryptocurrency trading platform’s reorganization plan. This allows for the distribution of funds to creditors, with 98% of them receiving around 119% of the value of their claims in cash within 60 days of the plan going into effect. The total amount to be returned to creditors is expected to be between US$14.7 billion to US$16 billion, with strong support from 94.48% of creditors in the “dotcom customer rights claims” category.
The reorganization plan for FTX has been given the green light by Judge John Dorsey, allowing for the distribution of funds to creditors. The plan ensures that 98% of creditors will be paid approximately 119% of their claim value in cash within 60 days of the plan becoming effective. Creditors can expect to receive between US$14.7 billion to US$16 billion in total, with overwhelming support from 94.48% of those in the “dotcom customer rights claims” category who participated in the voting process.
