FTX owes over $3 billion to its 50 biggest creditors: Bankruptcy filing
In keeping with a court docket submitting on Nov. 20, FTX Buying and selling LTD owes its high 50 collectors over $3 billion. The doc, which was submitted by means of the USA chapter court docket for the district of Delaware, was filed as a part of the corporate’s Chapter 11 chapter proceedings.
FTX discloses its high 50 collectors are owed $3.1 billion.
The most important creditor is owed $226 million.
All names have been redacted. pic.twitter.com/JGeddvMB7w
— Tom Dunleavy (@dunleavy89) November 20, 2022
The submitting indicated that FTX owes the highest particular person alone in extra of $226 million, with all others owed sums roughly ranging between $21 million and $203 million. The collectors’ identities are unknown, and their places are undisclosed. The doc defined:
“The High 50 Checklist relies on the Debtors’ at present out there creditor data, together with buyer data that was capable of be considered however shouldn’t be in any other case accessible at the moment. The Debtors’ investigation continues relating to quantities listed, together with funds that will have been made however should not but mirrored on the Debtors’ books and information. The Debtors are additionally working to acquire full entry to buyer knowledge.”
Following its speedy collapse, FTX filed for Chapter 11 chapter on Nov. 11. The corporate introduced at the moment that it had employed a brand new CEO, John J. Ray III, to supervise the proceedings and that the corporate’s former CEO Sam Bankman-Fried had resigned from his place.
Ray said on the time, “The instant reduction of Chapter 11 is suitable to supply the FTX Group the chance to evaluate its state of affairs and develop a course of to maximise recoveries for stakeholders. […] The FTX Group has precious property that may solely be successfully administered in an organized, joint course of.”
The filings following that preliminary announcement have since speculated that FTX might have over 1 million collectors whole.
