Supreme Court ruling strengthens prospects for full recovery for Australia's FTX creditors
A ruling made by the Supreme Court of Victoria in January increases the possibility of Australian creditors of cryptocurrency exchange FTX recovering all their funds. Judge Patricia Matthews clarified in the ruling that only those who initiated Australian dollar withdrawal requests (about 747 investors) are eligible for a full refund.
According to the Australian Financial Review, the AUD 26 million raised by consulting and investment firm Korda Mentha is enough to repay all 747 investors. Reports suggest that FTX prioritizes repaying creditors over reviving the platform, and Australian investors were subsequently informed that they will receive compensation.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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