cryptd.in

암호화폐 친화적인 인재를 위한 대체 링크드인

FTX Creditors Rejected Bankruptcy Reorganization Plan

-

by

in

Creditors of the bankrupt cryptocurrency exchange FTX have filed an objection to the platform’s proposed reorganization plan, citing its failure to meet certain requirements of the Bankruptcy Code.

According to a tweet by FTX creditor activist Sunil Kavuri, the objection argues that the reorganization plan ignores property rights issues, does not satisfy the best interest test, and contains inconsistent debtors liquidation analysis.

Creditors Object to FTX Bankruptcy Plan

FTX creditors Ahmed Abd El-Razek, Pat Rabbitte, Noia Capital, and Kavuri submitted the objection in the U.S. Bankruptcy Court for the District of Delaware on June 6, a month after the crypto exchange filed the reorganization and proposed a way to repay customers.

On May 7, FTX revealed that it had gotten more money than was needed to make repayments and conclude its bankruptcy process. Although customers and other affected parties lost roughly $11 billion when the exchange collapsed in 2022, the bankruptcy estate said it had amassed more than $16 billion from selling assets and consolidating funds from various entities.

Under the proposed reorganization plan, FTX would pay 98% of creditors with claims less than $50,000, roughly 118% of their allowed claims, within 60 days after the plan is approved. On the other hand, non-governmental creditors would receive 100% of their claims and potential additional 9% interest payments.

While the crypto community responded positively to the proposed plan, Kavuri and some other creditors expressed their disapproval of its terms.

In Kind Distributions

The objectors are pushing for FTX to make the repayment distributions in kind to avoid incurring taxes on creditors.

“It is painfully apparent that the Debtors’ proposed Plan will inflict additional hardships on customers through forced taxation that could be avoided by making an ‘in kind’ distribution…If instead of providing cash on account of the claim, the Debtors would distribute ‘in kind’ to the customer, the customer may be able to avoid a reporting event for tax purposes,” they stated.

Kavuri and the other creditors insist that the FTX bankruptcy estate can enter an agreement with another crypto exchange to make the distributions in kind, as doing so on their own may be difficult.

In addition, the trio rejected the proposed plan because it is “unconfirmable as a matter of law,” includes releases not in the estate’s interest, and contains unambiguous terms of service and statements by the debtors.

게시물 FTX Creditors Rejected Bankruptcy Reorganization Plan 에 처음 등장 크립토포테이토.

댓글

답글 남기기

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

최신 피드

인기 카테고리

ko_KR 한국어
ko_KR 한국어 en_US English ro_RO Română et Eesti ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

웹사이트 검색

인기 스토리

태그

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #B비트코인 (458) #BitcoinETF (3) #B비트코인기초 (1) #B비트코인 취급 (1) #B비트코인가격 (5) #B비트코인가격수준 (1) #B비트코인펌프 (1) #B비트코인예치 (1) #B비트코인서지 (1) #BitcoinTop (1) #Bitfinex (1) #B비트 단위 (1) #브레이스브리지캐피털 (1) #BRC20토큰 (1) #BTC취득 (1) #B울리스틱 예측 (1) #BullishSentiment (1) #C중국광업 (1) #CPIP리뷰 (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (74) #DogecoinGains (1) #DogecoinVolume (1) #DutchCourt (2) #ECommerce (1) 1TP5테엘살바도르비트코인 (1) 1TP5테더리움 (74) 1TP5테더리움통증 (1) 1TP5테더리움가격 (1) 1TP5전문가 의견 (1) #FedRateCut (1) #FiatCurrency (1) #FinancialImpact (1) #FinancialPrivacy (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #인플레이션데이터 (1) #투자 (1) #투자손실 (1) #일본기업 (1) #LegalAction (1) #LegalImpact (1) #법률 (1) #라이트닝 네트워크 (1) 1TP5시장분석 (3) 1TP5시장 모니터링 (1) 1TP5시장 예측 (1) 1TP5시장 예측 (1) #MarketProjection (1) 1TP5마켓지원 (1) 1TP5시장변동성 (1) #M결혼 (1) #MemeCoin (5) #MemeCoins (2) #M광부수익성 (1) #MoneyLaundering (2) #MtGox (4) 1TP5북한암호화 (1) 1TP5노보그라츠예측 (1) #P가격 마일스톤 (1) #P가격 예측 (2) #P가격 질문 (1) #PriceSurge (1) #P형량 (1) #QuantAnalysis (1) 1TP5규제압력 (1) #SEC안티크립토 (1) #ShibaInu (6) #SocialBuzz (1) 1TP5기술분석 (1) #Toncoin (3) #TornadoCash (3) #TornadoCashDev (1) 1TP5토네이도캐시개발자 (1) #UKCrypto (1) #업사이드 잠재력 (1) #USCongress (1) #와이오밍랜드 (1) #XRP가격 (1) #XRP업스윙 (1)

유용한 링크

유용하다고 생각되어 공유하고 싶은 링크.