FTX begins creditor repayment process within 60 days

The creditor repayment procedure for FTX, a global virtual asset exchange that went bankrupt in 2022, has begun. Sunil Kaburi, representative of the FTX creditor group, said on the 3rd (local time),
The creditor repayment plan was officially put into effect on this day, and repayment procedures are expected to be completed within 60 days. According to FTX's repayment plan, repayments will be made to creditors with claims of less than $50,000.
During the redemption process, creditors are expected to receive approximately 119% of their claims.
In October last year, the U.S. bankruptcy court approved FTX's restructuring plan, which included creditor repayment.
FTX filed for bankruptcy protection in the United States in November 2022 due to a liquidity crisis.