According to The Block, a newly disclosed agreement shows that FTX plans to allocate $230 million to compensate preferred shareholders. The FTX debtor's estate, led by lawyers from Sullivan and Cromwell, will donate 18% of all proceeds from the government's seizure action to a special fund for the "exclusive benefit" of certain shareholders. The agreement was finalized after the deadline for creditors to vote on the plan and was not disclosed until 30 days later (September 27). In addition, the FTX restructuring plan confirmation hearing is currently scheduled for October 7 at 10:00 EST, and Judge John Dorsey of the U.S. District Bankruptcy Court for the District of Delaware will decide whether to approve the plan at the hearing.