Jesse Hamilton is CoinDesk's deputy managing editor for global policy and regulation. He doesn't hold any crypto.
to pay those who had money at defunct FTX as much as 90% of the assets that remain, and now the lawyers representing some creditors are trying to get enough of those investors on board to make it happen.before the company detonated. So, it's still uncertain exactly how many cents on their dollars people will see returned to them when the dust clears.
"We want to get the word out," said Sarah Paul, a lawyer with Eversheds Sutherland who represents the Ad Hoc Committee of Non-U.S. Customers and its $1 billion in claims against FTX."This is a really great result for customers." But the bankruptcy negotiation was always aimed toward a settlement, because it gets money into people's hands much more quickly, Paul explained. The lawyers have until Dec. 1 to get a 75% approval rate from the 60 individuals and entities in their group and with any investors who sign up as members in the coming weeks..
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