FTX Targets Early January 2025 for Reorganization Plan, Creditor and Customer Distributions of $14.7B-$16.5B

Nov 21, 2024, 05:11 PM

FTX Trading Ltd. and its affiliated debtors have announced that their Chapter 11 reorganization plan is expected to take effect in early January 2025. The company plans to begin creditor and customer distributions within 60 days of the plan's effective date, with initial distributions expected to start no later than March 2025. CEO John J. Ray III has stated that the company aims to return between $14.7 billion and $16.5 billion to creditors. This timeline provides clarity to creditors as the bankruptcy case unfolds, with distributions set to commence in the coming months.