FTX Recovery Trust May Withhold Assets From Creditors in 49 Restricted Countries

FTX Recovery Trust may withhold assets from creditors in 49 restricted countries

FTX Recovery Trust wants to employ regional lawyers to help determine which countries it can, or can't, return creditor assets to.

FTX Recovery Trust Freezes Payouts To 49 Countries Pending Legal Clearance, China Faces Biggest Hit - Data Intelligence

The FTX Recovery Trust informed the Delaware bankruptcy court that it will treat creditor claims from 49 foreign jurisdictions as disputed, as local rules prohibit either crypto trading or the use of distribution agents. According to a July 2 filing shared by FTX Creditor advocate Sunil Kavuri, the trust stated it cannot release funds to customers in those markets until a legal analysis confirms that payouts would not violate local law.  The lis…

What You Need to Know About Disputed Claims in FTX Bankruptcy and Their Potential to Be Allowed - THE iBULLETIN

When a company undergoes bankruptcy, the process of addressing claims from creditors can be complicated, especially when those claims are disputed. This is exactly what’s happening with the FTX bankruptcy case, where billions of dollars are at stake and creditors must wait to find out whether their claims will be approved. Disputed claims in the FTX case are being carefully reviewed, with some expected to eventually be allowed, but the process i…

FTX Recovery Trust v. AZA Finance et al: Complaint (‘$50M Fraudulent Transfers’)

Complaint “for the turnover of over $50 million in estate assets” in FTX Recovery Trust v. NeWurth S.A., d.b.a. AZA Finance, of Luxembourg; B Transfer Services Limited, of England; BT Payment Services Nigeria Ltd., of Nigeria; Transferzero Money Transfer EP SA, of Spain; BT Payments Services Uganda Ltd., of Uganda; Elizabeth Rossiello, Adam Gouveia, Marleen Haye, Callum Dryden, Min-Si Wang, Charlene Chen, Linda Levinson, and Tomoyuki Nii at the …

FTX Creditors Receive 120% Payouts on Small Claims, Partial on Large Claims

FTX’s creditor repayments are progressing almost three years after its collapse. New details have emerged, which reveal that smaller claims are receiving 120% payouts and larger ones are paid 72.5% so far. Additional distributions are planned through 2027, which aim to complete full recoveries for larger creditors. FTX Payout Progress Sunil Kavuri, the FTX creditor activist, revealed that claims under $50,000 received 120% payouts in February an…