98% of FTX’s creditors will get 119% of the amount of their allowed claim.
Looking ahead, we are poised to return 100% of bankruptcy claim amounts plus interest for non-governmental creditors through what will be the largest and most complex bankruptcy estate asset distribution in history,” said John Ray, who took over as FTX CEO following the company’s bankruptcy filing in late 2022, in a statement on Monday.
The company says it has collected between $14.7 billion and $16.5 billion worth of property for distribution. FTX previously estimated that it owes creditors around $11.2 billion.”
– – – –
But..but..government is evil…and..and…regulations are not ‘capitalism ‘…and..🤓
Far right extremists libertarians tech bros keep on mooching from our taxpayers money handouts endlessly….🤑
In the meantime….Americans workers with student debt and medical debts are getting victim blamed crap…..I mean…you should had been a CEO….🔥🐗
More on this subject from other reputable sources:
3 comments
“According to the court-approved plan,
98% of FTX’s creditors will get 119% of the amount of their allowed claim.
Looking ahead, we are poised to return 100% of bankruptcy claim amounts plus interest for non-governmental creditors through what will be the largest and most complex bankruptcy estate asset distribution in history,” said John Ray, who took over as FTX CEO following the company’s bankruptcy filing in late 2022, in a statement on Monday.
The company says it has collected between $14.7 billion and $16.5 billion worth of property for distribution.
FTX previously estimated that it owes creditors around $11.2 billion.”
– – – –
But..but..government is evil…and..and…regulations are not ‘capitalism ‘…and..🤓
Far right extremists libertarians tech bros keep on mooching from our taxpayers money handouts endlessly….🤑
In the meantime….Americans workers with student debt and medical debts are getting victim blamed crap…..I mean…you should had been a CEO….🔥🐗
More on this subject from other reputable sources:
—
– Handelsblatt (B): [Crypto: Court approves resolution plan for collapsed crypto exchange FTX](https://www.handelsblatt.com/finanzen/maerkte/devisen-rohstoffe/krypto-gericht-genehmigt-abwicklungsplan-fuer-kollabierte-kryptoboerse-ftx/100077017.html)
– Bloomberg (B): [FTX Clear to Repay Customers as Firms Seek Slice of $1 Billion](https://www.bloomberg.com/news/articles/2024-10-07/ftx-clear-to-repay-customers-as-firms-seek-slice-of-1-billion)
– Wired (C+): [FTX Customers Will Get Back Billions After Judge OKs Bankruptcy Plan](https://www.wired.com/story/ftx-bankruptcy-us-judge-confirms/)
– Reuters (A): [Crypto exchange FTX’s liquidation plan receives court approval](https://www.reuters.com/legal/crypto-exchange-ftxs-liquidation-plan-receives-court-approval-2024-10-07/)
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You’re making an assumption that a creditors allowed claim amount is actually equal to the amount given to FTX.