On May 17th, according to official emails, the deadline for FTX clients to submit claims will be extended to coincide with the voting deadline for approval of the bankruptcy protection restructuring plan by US program creditors. Although the new deadline has not yet been determined, FTX Digital and the official liquidator expect the deadline to be at the end of July or early August.
FTX clients can choose to participate in either the Bahamian program or the US program, but cannot participate in both programs at the same time. Clients will receive disclosure documents in June that explain the impact of participating in either program and will have 6-8 weeks from the date of disclosure to make a final decision. Although there may be some differences between the Bahamian and US programs, it is expected that clients will receive the same distribution shares at the same time.