Update on #FTX Repayment Plan.

Repayments are not starting next week.

Here is the timeline:-

October 07, 2024 : Confirmation hearing : It is a court proceeding where a judge decides whether to approve or reject a debtor's repayment plan. The judge considers the plan's feasibility, listens to creditors' objections, and asks questions about the plan. 

October 22, 2024 : Omnibus Hearing :- Lawyers may argue to exclude specific evidence and the court may hear a variety of matters related to the case.

The small amount creditors may start receiving funds till the end of 2024, however, the creditors with large sums of credits might have to wait a little longer till 2025.

Apologies for the previous post.

See more:-

https://x.com/imvijaygir/status/1840566375666061709