FTX and Bahamas Liquidators Agree on New Bankruptcy Terms

• FTX has resolved the lingering issue with liquidators on how to treat their Bahamas unit.
• Both entities will pool their assets and use a unified approach to value customer claims.
• Customers of FTX can now choose whether to seek repayment from the U.S. bankruptcy or the Bahamian liquidation.

Bankrupt cryptocurrency exchange FTX has resolved the lingering issue with liquidators on how to treat their Bahamas unit. The bankrupt company recently settled on how to repay customers from their Bahamas unit.

According to reports, FTX and FTX Digital Markets have agreed to work together by pooling their assets and using a unified approach to value customer claims. This will ensure that customers from the United States and the Bahamas receive equal treatment. The agreement would also allow FTX customers to choose whether to seek repayment from the U.S. bankruptcy or the Bahamian liquidators.

FTX’s new CEO, John Ray, confirmed the recent agreement as a significant milestone in the company’s repayment process. He noted that one of the toughest challenges his team has faced is the conflicting filings of the FTX Debtors and FTX Digital Markets. However, he said they r…

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