FTX claims portal claims.ftx.com Step 6-The "Voting" window for the plan is open. The voting starts on July 10 and ends on August 16. Suggestions:
1. If you are going to sell your claims, it is not recommended to vote for the time being.
2. If you choose to wait for official compensation, it is recommended to vote in favor.
Why is it recommended to vote "in favor"? Although the plan is not very reasonable, such as token compensation is not calculated at the current price, 30% withholding tax, cash wire transfer/check, etc., the compensation ratio is relatively reasonable.
The most important thing is that according to the bankruptcy plan, if the plan is not voted through, it may switch to the CH7 liquidation procedure, then the proportion and time of creditors' compensation will be greatly reduced! This is a helpless and forced choice.
3. In addition, if there are unresolved issues with your claims.ftx claims account, you can go to the Bahamas program to apply for compensation distribution.
It should be noted that if you want to distribute through the Bahamas, you must select 'Bahamas Opt-in election' in the program before August 16 to participate in the voting on the plan, otherwise it will lead to incomplete Bahamas claims, because the official will not check such accounts.
4. Finally, as shown in the figure, "Step 7-Tax Requirements" is still inevitable. As for how much tax to deduct, it has not yet been finally confirmed.
IMO: Although the court has not yet decided on the compensation schedule, 5A/7A creditors may still not be compensated by the end of 2024.
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