FTX Reorganization Plan Wins 95% Creditor Approval

• Over 95% of FTX creditors back the reorganization plan, signaling strong recovery support.  
• FTX’s reorganization plan aims to distribute $14.5B-$16.3B, returning 100% plus interest to creditors.
• Ex-FTX exec Ryan Salame challenges guilty plea, citing pressure and unfulfilled prosecutor agreements.

FTX has secured crucial backing from its creditors for its proposed reorganization plan, bringing it a step closer to final approval. The plan, outlining how assets will be distributed and claims resolved, has garnered support from over 95% of voting creditors. This overwhelming support is a positive development for FTX as it navigates its Chapter 11 bankruptcy proceedings.

The FTX Debtors today announced overwhelming support from Creditors for their Plan of Reorganization. Read about it here: https://t.co/tmEIi5z8AD

— FTX (@FTX_Official) August 21, 2024

FTX and its affiliated debtors revealed that over 95% of participating creditors voted in favor of the reorganization plan. These votes account for 99% of the claims by value, demonstrating widespread agreement among creditors, including those tied to FTX U.S. and FTX Dotcom.

The reorganization plan estimat…

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