FTX Debtors' Reorganization Plan Sparks FTT Price Surge
FTX Trading Ltd. and its affiliated debtors, known as FTX Debtors, have filed their initial Plan of Reorganization and related Term Sheet with the U.S. Bankruptcy Court. The plan aims to achieve a consensual agreement and emergence from bankruptcy, with an amended plan and disclosure statement expected to be filed in the fourth quarter of 2023. The filing allows for creditor feedback and discussions with stakeholders, including the unsecured creditors committee and non-U.S. customers. The plan addresses a wide range of claims and disputes involving the FTX Debtors, both internal and external.
