Boroccoli
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WILMINGTON, Del., Feb. 18, 2025 /PRNewswire/ -- FTX Trading Ltd. (d/b/a. FTX.com) and the FTX Recovery Trust (collectively "FTX") today announced that FTX has commenced the initial distributions of recoveries to holders of allowed claims in FTX's Convenience Classes (the "Initial Distribution"), as defined in FTX's Chapter 11 Plan of Reorganization (the "Plan"). Customers should expect to receive funds within 1 to 3 business days.
FTX also announced the anticipated record date for the next distribution (the "Next Distribution") will be April 11, 2025 for holders of allowed claims of FTX's Class 5 Customer Entitlement Claims and Class 6 General Unsecured Claims as defined in the Plan, as well as Convenience Claims that have become allowed since the initial record date and have not received their distribution. The Next Distribution is expected to commence on May 30, 2025.
John J. Ray III, Plan Administrator of the FTX Recovery Trust, said: "We are pleased to commence initial distributions today and set the timeline for our next distribution. FTX appreciates our customers and creditors' patience and collaboration throughout this complicated process. Our work is not over – we intend to continue our recovery efforts and returning
WILMINGTON, Del., Feb. 18, 2025 /PRNewswire/ -- FTX Trading Ltd. (d/b/a. FTX.com) and the FTX Recovery Trust (collectively "FTX") today announced that FTX has commenced the initial distributions of recoveries to holders of allowed claims in FTX's Convenience Classes (the "Initial Distribution"), as defined in FTX's Chapter 11 Plan of Reorganization (the "Plan"). Customers should expect to receive funds within 1 to 3 business days.
FTX also announced the anticipated record date for the next distribution (the "Next Distribution") will be April 11, 2025 for holders of allowed claims of FTX's Class 5 Customer Entitlement Claims and Class 6 General Unsecured Claims as defined in the Plan, as well as Convenience Claims that have become allowed since the initial record date and have not received their distribution. The Next Distribution is expected to commence on May 30, 2025.
John J. Ray III, Plan Administrator of the FTX Recovery Trust, said: "We are pleased to commence initial distributions today and set the timeline for our next distribution. FTX appreciates our customers and creditors' patience and collaboration throughout this complicated process. Our work is not over – we intend to continue our recovery efforts and returning
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