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FTT Token 98% of FTX Creditors to Receive At Least 118% of Allowed Claims in Cash within 60 Days of Effectiveness Other Creditors to Receive 100% of Allowed Claims plus Billions in Compensation for the Time Value of Their Investments Plan Would Resolve Disputes with Governmental and Private Stakeholders without Costly and Protracted Litigation At the heart of the Plan are a series of settlements reached consensually with the key economic stakeholders. The key settlements (including those that are still subject to finalization and Court approval) include: Resolution of the $24 billion in claims filed by the Internal Revenue Service for periods prior to the chapter 11 cases in return for a $200 million cash payment and a $685 million subordinated claim that will rank below claims of all creditors and governmental entities. A proposed agreement with the Internal Revenue Service to also subordinate tax claims arising after the commencement of the chapter 11 cases to payment of creditors in full with interest at the Consensus Rate. A proposed agreement with the Commodity Futures Trading Commission and potentially other governmental claimants to both subordinate their claims to the payment of non-governmental creditors in full with interest at the Consensus Rate, and to contribute any recoveries on these subordinated claims to a special fund created by the Debtors for purposes of making supplemental restitution to certain customers and creditors. The Debtors have proposed that the Supplemental Remission Fund be made available to all customers and digital asset lenders. Details of this arrangement remain to be finalized. A proposed arrangement with the Department of Justice pursuant to which over $1.2 billion of forfeiture proceeds can, if the Department of Justice decides, be distributed to customers and creditors through the chapter 11 cases with no incremental administrative expense or delay. #altcoins #ai #FTT #FTX

FTT Token

98% of FTX Creditors to Receive At Least 118% of Allowed Claims in Cash within 60 Days of Effectiveness

Other Creditors to Receive 100% of Allowed Claims plus Billions in Compensation for the Time Value of Their Investments

Plan Would Resolve Disputes with Governmental and Private Stakeholders without Costly and Protracted Litigation

At the heart of the Plan are a series of settlements reached consensually with the key economic stakeholders. The key settlements (including those that are still subject to finalization and Court approval) include:

Resolution of the $24 billion in claims filed by the Internal Revenue Service for periods prior to the chapter 11 cases in return for a $200 million cash payment and a $685 million subordinated claim that will rank below claims of all creditors and governmental entities.

A proposed agreement with the Internal Revenue Service to also subordinate tax claims arising after the commencement of the chapter 11 cases to payment of creditors in full with interest at the Consensus Rate.

A proposed agreement with the Commodity Futures Trading Commission and potentially other governmental claimants to both subordinate their claims to the payment of non-governmental creditors in full with interest at the Consensus Rate, and to contribute any recoveries on these subordinated claims to a special fund created by the Debtors for purposes of making supplemental restitution to certain customers and creditors. The Debtors have proposed that the Supplemental Remission Fund be made available to all customers and digital asset lenders. Details of this arrangement remain to be finalized.

A proposed arrangement with the Department of Justice pursuant to which over $1.2 billion of forfeiture proceeds can, if the Department of Justice decides, be distributed to customers and creditors through the chapter 11 cases with no incremental administrative expense or delay.

#altcoins #ai #FTT #FTX

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