Repayment is approaching for FTX creditors, and voting on the repayment plan starts on October 7
There may soon be opportunities for payback since FTX's creditors are about to vote on a restructuring proposal.
After talks with debtors, the Official Committee of Unsecured Creditors proposed a proposal that they think provides the best possible outcome, and they asked individuals who would be impacted to vote on it.
Creditors and traders on X have criticized the last-minute alterations to the FTX repayment arrangement.
A call to vote and court records that leaked online suggest that FTX creditors may soon have their stolen monies returned. On October 7, the official committee of unsecured creditors of FTX requested that investors who had lost money in the FTX collapse vote on a repayment plan.
Payback for creditors might be expedited depending on the vote's result.
Proposed strategy for recouping FTX cash will be voted on by creditors
On October 7, creditors were asked to vote on a proposal that had been agreed with debtors by the official committee of FTX's unsecured creditors. As stated in the paper, the payment schedule, date value of creditor claims, and distributions were all agreed by the official committee and the debtors before a vote was called.
In the aftermath of the FTX collapse and bankruptcy, the fate of user money may hang in the balance until the vote on October 7. It was previously mentioned during the bankruptcy proceedings that the value of crypto assets has increased, allowing creditors to be repaid on a dollarized basis.
If the restructuring plan is to be implemented and if unsecured creditors and exchange users who lost crypto assets in the crash will get their money, then October 7 is a crucial day.
