financemagnates.com
FTX has entered into a settlement with liquidators for its Bahamas-based unit. This agreement involves the consolidation of assets and adopting a unified approach to valuing customers’ claims.
According to a statement shared with PR Newswire, this settlement allows customers of FTX to select their repayment route from either the U.S. bankruptcy or Bahamian liquidation proceedings.
Peter Greaves, the Joint Official Liquidator, mentioned: "This continues to be an exceptionally complex insolvency with a myriad of jurisdictional, technical and practical challenges to work through.
"For the millions of customers of the FTX Group, based across 230 jurisdictions, this is a landmark breakthrough allowing for collaboration in the monetization of assets and the adjudication of customer claims, with an approach that provides a roadmap to accelerate the return of funds to customers."
Expect ongoing updates as this story evolves...