FTX Launches Customer Claims Portal for Creditors in Chapter 11 Bankruptcy Proceedings

TL;DR Breakdown

  • FTX introduces a customer claims portal for creditors to submit claims in the Chapter 11 bankruptcy proceedings.
  • Customers of FTX.com, FTX.us, Blockfolio, FTX EU, FTX JP, and crypto exchange Liquid can access it to verify balances and submit electronic proofs of claim.

Description

FTX, the defunct cryptocurrency trading platform, has announced the launch of a customer claims portal, providing creditors with the opportunity to submit their claims. The portal allows individuals who had accounts with various FTX subsidiaries, including FTX.com, FTX.us, Blockfolio, FTX EU, FTX JP, and crypto exchange Liquid, to access their account information and file a … Read more

FTX, the defunct cryptocurrency trading platform, has announced the launch of a customer claims portal, providing creditors with the opportunity to submit their claims. The portal allows individuals who had accounts with various FTX subsidiaries, including FTX.com, FTX.us, Blockfolio, FTX EU, FTX JP, and crypto exchange Liquid, to access their account information and file a petition. The claims submitted through this portal will be considered as part of FTX’s ongoing Chapter 11 bankruptcy proceedings. In response to a U.S. court ruling, customers are required to file their claims by September 29. This article explores the details of the customer claims portal and its significance in FTX’s debt resolution efforts.

FTX Introduces Customer Claims Portal

FTX has taken a crucial step towards addressing its financial obligations by introducing a customer claims portal. This portal allows affected customers to access their account information and submit their claims, which will be considered during the Chapter 11 bankruptcy proceedings. By creating this platform, FTX aims to streamline the claims process and ensure transparency and fairness for all creditors involved.

Process and Instructions for Filing Claims

The customer claims portal, managed by the Kroll Restructuring Administration platform, provides a straightforward process for creditors to submit their claims. Users will first be directed to verify their account balances as of the Petition Date, which is currently set as November 11, 2022. This step is crucial in accurately calculating the claims and determining the extent of the debts owed to each customer.

Upon confirming their balances, customers will be guided through the process of submitting electronic proofs of claim, if necessary. This step allows them to provide any additional documentation or evidence to support their claim amount. It is imperative for creditors to carefully review their account information and submit accurate claims to ensure a fair evaluation of their outstanding balances.

Deadline and Implications

Creditors and former customers of FTX must be aware of the looming deadline for filing their claims. In accordance with a U.S. court ruling, all claims must be submitted by September 29. Missing this deadline could significantly impact a customer’s ability to recover their funds. Therefore, it is crucial for affected individuals to act promptly and utilize the customer claims portal to ensure their claims are properly registered within the designated timeframe.

By launching the customer claims portal, FTX aims to streamline the claims process and facilitate efficient debt resolution. The portal serves as a centralized platform for creditors to access their account information, verify balances, and submit their claims electronically. This approach enhances transparency and provides a fair opportunity for all customers to participate in the bankruptcy proceedings.

Conclusion

FTX’s introduction of the customer claims portal marks a significant step in its Chapter 11 bankruptcy proceedings. This platform enables creditors who held accounts with FTX.com, FTX.us, Blockfolio, FTX EU, FTX JP, and crypto exchange Liquid to submit their claims. With the deadline set for September 29, it is crucial for affected customers to promptly access the portal, review their account information, and submit accurate claims to secure their position in the debt resolution process. FTX’s commitment to transparency and fairness through this portal showcases its dedication to resolving its financial obligations and addressing the needs of its creditors.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:FTX Launches Customer Claims Portal for Creditors in Chapter 11 Bankruptcy Proceedings

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月12日 21:34
Next 2023年7月12日 22:53

Related articles

  • Top banks are bearish on the US dollar – Here is why

    TL;DR Breakdown Major U.S. banks, including Morgan Stanley, JPMorgan Chase, Goldman Sachs, and HSBC, are predicting a bearish outlook for the dollar. This change in sentiment is due to expectations of a “soft” economic landing, reducing the need for further interest rate hikes by the Federal Reserve. The dollar hit a 15-month low against an assortment of currencies, following a larger-than-expected dip in U.S. inflation. Description With leading U.S. banks including Morgan Stanley, JPMorgan Chase, Goldman Sachs, and HSBC projecting a bearish outlook on the dollar, the financial world is anticipating the shift. The predicted “soft” economic landing, characterized by the stabilization of the economy after a period of expansion without it tipping into a recession, seems to diminish the urgency … Read more With leading U.S. banks including Morgan Stanley, JPMorgan Chase, Goldman Sachs, and HSBC projecting a bearish outlook on the dollar, the financial world is anticipating the shift. The predicted “soft” economic landing, characterized by the stabilization of the economy after a period of expansion without it tipping into a recession, seems to diminish the urgency for…

    Article 2023年7月19日
  • HSBC slashes mortgage rates, sets new trend

    TL;DR Breakdown HSBC has reduced its fixed-term mortgage rates, offering hope to homeowners facing nearly 7% borrowing costs. The bank has reduced the cost of residential products by up to 0.35 percentage points. Smaller lenders are also indicating a shift towards lower rates, but others are increasing prices. Description Leading the way in an unexpected turn of financial events, HSBC, one of the major lending institutions in the United Kingdom, has boldly cut its fixed-term mortgage rates. This audacious move sparks a glimmer of hope amidst homeowners grappling with near-7% borrowing costs. HSBC breaking from the pack HSBC, the country’s sixth-largest bank, made public … Read more Leading the way in an unexpected turn of financial events, HSBC, one of the major lending institutions in the United Kingdom, has boldly cut its fixed-term mortgage rates. This audacious move sparks a glimmer of hope amidst homeowners grappling with near-7% borrowing costs. HSBC breaking from the pack HSBC, the country’s sixth-largest bank, made public its decision to decrease the cost of residential products by a significant 0.35 percentage points. The move is…

    Article 2023年7月27日
  • EOS gains JVCEA approval for token trading in Japan’s exchanges

    TL;DR Breakdown EOS obtains regulatory approval for trading EOS tokens on Japanese exchanges. EOS token holders can soon trade against the Japanese yen on a regulated platform. CEO Yves La Rose highlights the significance of approval for EOS’s commitment. Description EOS, a well-established platform in the crypto industry, has recently achieved a significant milestone. The EOS Network Foundation (ENF) has successfully obtained regulatory approval to trade EOS tokens on regulated cryptocurrency exchanges in Japan. This approval was granted by the Japan Virtual and Crypto Asset Exchange Association (JVCEA), a regulatory body that ensures the safety … Read more EOS, a well-established platform in the crypto industry, has recently achieved a significant milestone. The EOS Network Foundation (ENF) has successfully obtained regulatory approval to trade EOS tokens on regulated cryptocurrency exchanges in Japan. This approval was granted by the Japan Virtual and Crypto Asset Exchange Association (JVCEA), a regulatory body that ensures the safety of crypto trading in Japan.  The approval means that EOS token holders will soon be able to trade against the Japanese yen on BitTrade, a digital asset…

    Article 2023年8月30日
  • European Union takes action to de-risk from China

    TL;DR Breakdown The European Union (EU) is moving to reduce its dependence on China, with a focus on achieving a balance between risk management and cooperation. The “de-risking” strategy is aimed at making Europe more resilient to unexpected global changes, drawing lessons from past over-reliance on Russian gas. European leaders see the strategy as a gradual process that companies should primarily undertake, involving diversification over several years. Description The European Union is making resolute strides towards attenuating its dependence on China, a decision taken on Friday during an EU summit. Aiming for a delicate equilibrium between cooperation and caution, Europe’s leaders are calling this step a “de-risking” strategy that envisages a steady move towards self-sustainability and resilience. Reducing dependencies: The million euro question … Read more The European Union is making resolute strides towards attenuating its dependence on China, a decision taken on Friday during an EU summit. Aiming for a delicate equilibrium between cooperation and caution, Europe’s leaders are calling this step a “de-risking” strategy that envisages a steady move towards self-sustainability and resilience. Reducing dependencies: The million euro…

    Article 2023年7月3日
  • Bank of America foresees blockchain revolution amid regulatory tumult

    TL;DR Breakdown The SEC has taken enforcement actions against major crypto trading platforms, causing regulatory uncertainty and affecting token prices. Bank of America emphasizes the importance of blockchain technology and the tokenization of assets, which have the potential to revolutionize various sectors. Despite the regulatory challenges, the ongoing technological revolution of blockchain and tokenization should not be overlooked as they hold transformative potential. Description The digital financial ecosystem is currently sailing through turbulent waters. The U.S. Securities and Exchange Commission (SEC) recently flexed its regulatory muscle, launching enforcement actions against major crypto trading platforms Binance and its U.S. counterpart, Binance.US, and Coinbase, alleging violations of federal securities laws​​. However, these actions have amplified regulatory uncertainty and exerted downward pressure … Read more The digital financial ecosystem is currently sailing through turbulent waters. The U.S. Securities and Exchange Commission (SEC) recently flexed its regulatory muscle, launching enforcement actions against major crypto trading platforms Binance and its U.S. counterpart, Binance.US, and Coinbase, alleging violations of federal securities laws​​. However, these actions have amplified regulatory uncertainty and exerted downward pressure on token prices….

    Article 2023年6月22日
TOP