FTX: The restructuring plan has received voting support from all classes of creditors

ChainCatcher news, according to a report by PR Newswire, the bankrupt cryptocurrency exchange FTX and its affiliated debtors have announced that their reorganization plan submitted to the U.S. Bankruptcy Court in Delaware has received overwhelming preliminary support from all classes of creditors. An unofficial voting report indicates that over 95% of voting creditors supported the plan, representing 99% of the value of voting claims. The reorganization plan is expected to exceed the acceptance threshold set by the Bankruptcy Code.

FTX CEO and Chief Restructuring Officer John J. Ray III stated, "The plan provides for the return of 100% of the bankruptcy claim amounts and interest to non-government creditors and addresses complex disputes with dozens of government and private stakeholders. We will continue to work constructively with creditors and the court in the coming weeks until the confirmation hearing."

FTX will submit the final voting results to the U.S. Bankruptcy Court for the District of Delaware before the confirmation hearing scheduled to begin on October 7, 2024.