FTX Customers to Vote on Chapter 11 Repayment Plan

A U.S. judge has granted approval for FTX to poll its creditors on a proposed Chapter 11 repayment plan, paving the way for customers to vote on the multibillion-dollar initiative aimed at reimbursing individuals whose funds have been inaccessible since the exchange's collapse.



Judge John Dorsey of the District of Delaware has authorized FTX advisers to solicit customer votes regarding their Chapter 11 plan. Should the plan receive approval, it will facilitate customer repayments and address government penalties stemming from the collapse of Sam Bankman-Fried’s cryptocurrency enterprise.



Repayment Details



Creditors play a significant role in influencing restructuring plans through Chapter 11 voting. Although key committees representing customer interests back FTX’s plan, there remains a vocal opposition demanding substantial mo


First found on: Coinatory