FTX owes over $3 billion to its 50 largest creditors: bankruptcy filing
Not much is known about who these creditors might be, as names and personal information have been removed from the posted document.< /p>
New
According to a November 20 court filing, FTX Trading LTD owes its top 50 creditors more than US$3 billion. The document, which was submitted through the United States Bankruptcy Court for the District of Delaware, was filed as part of the company's Chapter 11 bankruptcy proceedings.
FTX reveals its top 50 creditors owe $3.1 billion.
The largest creditor owes $226 million.
All names have been removed. pic.twitter.com/JGeddvMB7w
— Tom Dunleavy (@dunleavy89) November 20, 2022The filing shows that FTX owes the single superior over $226 million, and all others owe between approximately $21 million and $203 million. The identity of the creditors is unknown and their location undisclosed. The document explains:
"The top 50 list is based on currently available information about debtors' creditors, including customer information that may have been accessed but is not otherwise accessible at this time. The Debtors Survey continues with respect to the amounts shown, including payments which may have been made but are not yet reflected in the Debtors' books and records. The Debtors are also endeavoring to obtain full access to customer data."< /p>
Following its rapid collapse, FTX filed for Chapter 11 bankruptcy on November 11. The company then announced that it had hired a new CEO, John J. Ray III, to oversee the proceedings, and that former company CEO Sam Bankman-Fried had resigned.
Ray said at the time, "The immediate Chapter 11 relief is appropriate to give FTX Group the opportunity to assess its situation and develop a process to maximize recoveries for stakeholders. [.. .] The FTX Group has valuable assets...
Not much is known about who these creditors might be, as names and personal information have been removed from the posted document.< /p>
New
According to a November 20 court filing, FTX Trading LTD owes its top 50 creditors more than US$3 billion. The document, which was submitted through the United States Bankruptcy Court for the District of Delaware, was filed as part of the company's Chapter 11 bankruptcy proceedings.
FTX reveals its top 50 creditors owe $3.1 billion.
The largest creditor owes $226 million.
All names have been removed. pic.twitter.com/JGeddvMB7w
— Tom Dunleavy (@dunleavy89) November 20, 2022The filing shows that FTX owes the single superior over $226 million, and all others owe between approximately $21 million and $203 million. The identity of the creditors is unknown and their location undisclosed. The document explains:
"The top 50 list is based on currently available information about debtors' creditors, including customer information that may have been accessed but is not otherwise accessible at this time. The Debtors Survey continues with respect to the amounts shown, including payments which may have been made but are not yet reflected in the Debtors' books and records. The Debtors are also endeavoring to obtain full access to customer data."< /p>
Following its rapid collapse, FTX filed for Chapter 11 bankruptcy on November 11. The company then announced that it had hired a new CEO, John J. Ray III, to oversee the proceedings, and that former company CEO Sam Bankman-Fried had resigned.
Ray said at the time, "The immediate Chapter 11 relief is appropriate to give FTX Group the opportunity to assess its situation and develop a process to maximize recoveries for stakeholders. [.. .] The FTX Group has valuable assets...
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