FTX creditors may soon be able to recover lost funds, as indicated by court documents and a recent online call to vote. The Official Committee of Unsecured Creditors has urged investors who lost money in the FTX collapse to participate in the vote on a proposed repayment plan scheduled for October 7. The vote's outcome could expedite the repayment process for creditors.
FTX creditors will vote on a plan for the recovery of funds
The Official Committee of Unsecured Creditors of FTX has negotiated a repayment plan with debtors and has called on creditors to vote on it on October 7. According to court documents, this plan outlines the value of creditor claims and distributions.
The outcome of the October 7 vote could significantly influence the recovery of user funds lost in the FTX collapse and bankruptcy. During the bankruptcy proceedings, it was noted that the value of crypto assets has increased, allowing for potential repayment on a dollarized basis.
Crypto traders have voiced their concerns about last-minute changes to the payback plan, expressing their dissent on X. Thus, October 7 is a critical date that will determine whether the reorganization plan is approved and if payments to unsecured creditors, including exchange users who lost their crypto assets, will be disbursed.
