FTX unveils revised reorganization plan, sets mid-December court submission
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 ...