PwC: FTX customers are expected to receive 119 to 143 cents per dollar in claims

FTX liquidator PwC has released an update on the liquidation process. Dotcom clients of FTX or FTX International have the right to file claims in the Bahamian or US proceedings. At this stage, if the bankruptcy protection plan is approved, Dotcom clients are expected to receive between 119 and 143 cents per dollar claimed.

For clients who have submitted debt proof claims in the Bahamian proceedings, FTX will send a letter in the future to confirm if they wish to continue managing, processing, arbitrating, and resolving the claims in the Bahamas. Clients who have not yet submitted debt proof claims in the Bahamian process can submit claims before the deadline, which is currently expected to be in mid-August 2024. In addition, after the court approves the bankruptcy protection debtor restructuring plan, FTX will confirm the date and next steps in writing, and the hearing date for the US bankruptcy court plan is set for June 25, 2024.