PANews July 4 news, FTX creditor representative Sunil tweeted that FTX has applied to the court for approval to implement a new 'Restricted Distribution Procedure' in 49 restricted jurisdictions (including China). FTX will seek legal advice, and if distributions can be made to potential restricted jurisdictions, normal payments will be issued. Otherwise, the restricted procedure will be initiated, and creditors will lose their distribution rights. These restricted jurisdictions account for about 5% of the total creditor amount, with the value of claims from China making up 82%.
