🚨🚨The FTX Debtors have announced another major milestone in their chapter 11 cases.

After extensive discussions with the Ad Hoc Committee of Non-US Customers, the Unsecured Creditors Committee and class action plaintiffs, the FTX Debtors have reached a proposed settlement of the customer property disputes.

If approved by the Bankruptcy Court, the settlement will create a special “Shortfall Claim” to benefit customers, as previously proposed by the FTX Debtors in July, and facilitate an offer to eligible customers to settle customer preference exposure at an agreed amount.All creditor representatives involved agreed to support a related amended Plan of Reorganization to be filed by 12/16/23🚨🚨⚠️⚠️

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