crypto-news — FTX and its debtors have reached an settlement with joint liquidators representing the bankrupt cryptocurrency alternate’s Bahamas entity, as a part of a drive to maximise asset recoveries and reconcile claims for purchasers and collectors.
In keeping with a press release on Tuesday, the settlement will see each events pool property collectively and coordinate to ascertain reserves to be able to “make sure that FTX.com clients […] obtain considerably equivalent relative distributions at considerably equivalent occasions.”
The settlement nonetheless must be accredited by a U.S. chapter court docket in Delaware and the Supreme Courtroom of The Bahamas, the assertion mentioned.
FTX Chief Government John Ray, who changed convicted founder Sam Bankman-Fried, referred to as the event a “crucial milestone” within the firm’s drive to pay again clients.
