FTX, a bankrupt company, has announced a chapter 11 plan that promises to return 100% of bankruptcy claim amounts plus interest to non-governmental creditors. The plan, which is based on a potential recovery of up to $16.3 billion in assets, was revealed in May by FTX’s liquidation CEO John Ray.
“We are pleased to be in a position to propose a chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors,” said John Ray in a statement. “I want to thank all the customers and creditors of FTX for their patience throughout this process.”
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