FTX debtors scrap reboot plans

Lawyers representing FTX in its bankruptcy told a court Wednesday that the former exchange will repay customers in full.

Andrew Dietderich, a lawyer, said that customers and unsecured creditors who can prove their losses “will eventually be paid in full.” Restructuring advisers will assess the claims to separate the legitimate from the illegitimate ones.

“I’d like the court and stakeholders to understand this is not a guarantee,” but an objective, he added. “There is still a great amount of work, and risk, between us and that result. But we believe the objective is within reach and we have a strategy to achieve it.”

The company, which filed for bankruptcy in November 2022,…

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