According to Techub News, FTX Trading Ltd. and its affiliated debtors announced that the revised reorganization plan submitted to the U.S. District Court for the District of Delaware Bankruptcy Court received majority support from all classes of creditors eligible to vote, including customer classes of FTX US and FTX Dotcom.
FTX cited unofficial voting reports showing that more than 95% of voting creditors voted in favor of the plan, representing 99% of the value of the voting claims. More than 2/3 of all solicited claims participated in the debtor’s solicitation process, by vote value. Based on these results, the plan is expected to exceed the acceptance thresholds set forth in the Bankruptcy Code. FTX will submit the final voting results to the U.S. Bankruptcy Court for the District of Delaware prior to the confirmation hearing scheduled to begin on October 7, 2024.
