After 13 months of bankruptcy, FTX files its reorganization plan to end it

FTX’s debtors, the Official Committee of Unsecured Creditors and “other creditor stakeholders” agreed to a reorganization plan late last week. 

The debtors filed a disclosure statement and a reorganization plan with the bankruptcy court ahead of a 2024 hearing on the plan.

FTX filed for bankruptcy on Nov. 11, 2022. The plan, not yet approved, would have claims honored at the price that they were at in November 2022, meaning that a potential claim for bitcoin would be for $17,000 — the closing price of bitcoin in November 2022 — and not $41,000, where it currently stands.

There are twenty-three claim classes in the proposed plan. The voting deadline for claims will be around a…

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