A recent The Block report states that notes from a meeting of FTX Digital's Joint Official Liquidators in the Bahamas reveal that the FTX bankruptcy estate aims to initiate customer repayments by the close of 2024.

This endeavor encompasses two concurrent processes: the Chapter 11 bankruptcy overseen by a Delaware court in the United States and the official liquidation of FTX Digital, FTX's subsidiary based in the Bahamas, prompted by the intricacies of FTX's accounting.

Despite the complexities, both entities have committed to collaboration, ensuring equitable treatment for creditors. The objective, as outlined in the meeting notes from March 15, is to facilitate the first interim distribution to creditors with admitted claims and satisfactory KYC documentation by the end of 2024.

Creditors have been engaging via FTX's claims portal since its launch on March 1, with a current deadline for claim submission set for May 15, though an extension to at least June 2024 is anticipated. Both Bahamian and Chapter 11 claims will be assessed based on their valuation as of November 11, 2022, the inception of the bankruptcy claim.

Resources:

The Block