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FTX will submit a revised restructuring plan in mid-December

The Official Committee of Unsecured Creditors has drafted a response to the interim commission for FTX 2.0 clients. opinions About the details of the proposed amended reorganization plan. The plan, which is expected to be implemented in mid-December, is expected to rearrange the fate of unsecured creditors.
In the letter, the Committee of Unsecured Creditors, acknowledging different perspectives on the valuation and distribution of assets, underlined the ability of the proposed plan to achieve a balance between stakeholders’ interests.
However, including ongoing activities potential purchase Bankruptcy proceedings, which may occur during financial services firm Perella Weinberg’s bankruptcy proceedings, will be formally submitted for approval through the court. Concepts such as recovery rights tokens mentioned in the special commission letter for FTX 2.0 clients are currently being evaluated by both the official commission and potential transaction participants.
As part of its latest bankruptcy filing, FTX and 101 of its 130 subsidiaries announced that it was launching a strategic review of its global operations. An audit is an attempt to maximize recoverable value for the parties involved. However, FTX clarified HE “The appointment of Perella Weinberg is subject to court approval.”
The letter ends with the official expressing the Committee’s willingness to support cooperation with the special commission for FTX 2.0 clients in the coming months.
U.S. Securities and Exchange Commission Chairman Gary Gensler suggested: FTX crypto exchange As long as the new leadership adheres to legal boundaries, the revised ones can receive agency approval. Gensler’s remarks follow reports that Tom Farley, the former chairman of the New York Stock Exchange, may consider purchasing the bankrupt crypto exchange originally founded by the convicted fraudster. Sam Bankman Fried.

Translation by Walter Rizzo

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