FTX applies to the court to implement

PANews July 4th news, FTX creditors representing Sunil tweeted that FTX applied for court approval to allow a new "restricted processing procedure" to be implemented in 49 jurisdictions with limited allocations (including China). FTX will seek legal advice and pay compensation normally if distributions can be made to potentially restricted jurisdictions. Otherwise, restricted processing procedures will be initiated and creditors will lose their distribution rights. These jurisdictions with limited distribution account for approximately 5% of the total debt, of which 82% of the value of China's debt.
Disclaimer: The views in this article only represent the author's personal views and do not constitute investment advice of this platform. This platform does not make any guarantees for the accuracy, completeness, originality and timeliness of article information, nor is it liable for any losses caused by the use or trust in article information.