FTX Proposes Generous Reorganization
FTX, in bankruptcy, has filed a plan offering 98% of its creditors 118% of their claims in cash within 60 days post-court approval. The plan, still needing Delaware court's nod, also promises non-governmental creditors full claims plus up to 9% interest. https://www.coindesk.com/policy/2024/05/08/nearly-all-ftx-creditors-will-get-118-of-their-funds-back-in-cash-estate-says-in-new-plan/