FTX's latest legal document: Reveals top 50 creditors, total amount of claims nearly $3.1 billion.
The bankruptcy reorganization case of FTX is still ongoing. On November 19th, FTX Trading and other debtor companies submitted documents to the Delaware court listing the top 50 unnamed creditors. The largest creditor's claim amount is $226 million, and the total amount of the top 50 creditors' claims is nearly $3.1 billion.
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Why List the Top 50 Creditors?
According to legal documents revealed, filing for Chapter 11 bankruptcy restructuring requires the submission of a list of the top 50 unsecured creditors, excluding those with existing collateral unless their collateral value is insufficient to rank them among the top 50 creditors.
In essence, this is part of the bankruptcy restructuring process and sheds light on the severity of FTX's major creditors' situation.
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