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According to law firm Paul Hastings, the Official Committee of Unsecured Creditors has responded to the FTX 2.0 Customer Ad Hoc Committee, offering insights into its proposed amended reorganization plan, set to be implemented in mid-December.  The plan is anticipated to influence the future outcomes for unsecured creditors significantly. Divergent viewpoints The committee’s acknowledgment letter highlights differing opinions regarding the valuation and distribution of assets in the debtors’ estates during the reorganization plan. However, it also agrees with the 2.0 AHC’s acknowledgment in the letter that, for the bankruptcy process to be efficient and beneficial to all involved, practical compromises are necessary within the U.S. bankruptcy law framework. You might also like: FTX, Alameda move an additional $22m worth of crypto The letter states that a potential acquisition, recapitalization, or other transaction involving the debtors’ exchanges ...

Troubled cryptocurrency exchange Zipmex has proposed its creditors nearly 30 cents per dollar of claims as part of its restructuring plan. Embattled crypto exchange Zipmex has offered its creditors 29.35 cents per dollar as the firm is seeking new options to stay afloat under the revised restructuring plan, Bloomberg has learned, citing sources familiar with the matter. According to the report, key creditors do not agree with the terms of the new proposal, demanding an independent audit of Zipmex’s balance sheet. Details of Zipmex’s latest repayment plan will be approved or denied through early Dec. 2023, sources say. Zipmex’s Group head Marcus Lim did not go into details, but told Bloomberg in a commentary that the sources have obtained inaccurate information. You might also like: Thai regulators want to know more about Zipmex accounts Earlier, crypto.news reported that Zipmex decided to suspend all digital asset trading activities in Thailand until Jan. 3...