FTX Digital's claim application deadline extended to June, aiming to make the first repayment by the end of the year.

Many people have received a letter from FTX Digital Markets Ltd., Bahamas entity, before the weekend. The first creditors' meeting of FTX Digital was successfully held in the Bahamas on March 15, 2024. During the meeting, it was mentioned that the claim filing for FTX Digital will be postponed until June, and it was reiterated that efforts will be made to make the first repayment to eligible creditors by the end of 2024.

Debts Due by End of 2024!

The first creditors' meeting of FTX Digital was successfully held in the Bahamas on March 15, 2024, as per the minutes released. The decision to establish a liquidation committee was unanimously approved, and the official organization of the committee is currently underway. The meeting's questions and cases will be uploaded to the official website in the future.

The meeting also reiterated the common goal of the Bahamas and the U.S.-led liquidation and restructuring team under John Ray:

To make the first distribution to recognized creditors and creditors with KYC documents by the end of 2024!

FTX Digital Claims Date Extended to June

An agreement has been reached between the Bahamas and the U.S.-led liquidation and restructuring case under John Ray to ensure that roughly similar returns will be obtained through any process. While the official documents mention that "clients who have filed claims in the U.S. still have the right to submit," creditors will only receive distributions from one of the processes.

Received an FTX debt claim? Bahamas court explains the differences and impacts between the Bahamas and U.S. claims processes

If you did not complete your debt claim in the U.S. within the stipulated time, you may attempt to apply through the FTX Digital Bahamas claims process, which originally had a deadline of 5/15 but may now be extended to the end of June, with the official date to be announced later.

Another channel for FTX claims, unfinished applications can be completed via FTX Digital before 5/15

The meeting also mentioned legal and other professional fees that have been approved by the court, with creditors having spent $56 million on legal fees as of January 31, 2024.