FTX Announces Second Creditor Payouts: $5 Billion Distribution for Impactful Recovery

FTX is commencing the distribution of a significant $5 billion to creditors impacted by its bankruptcy. This second payout, scheduled to begin May 30th, marks an important milestone in the company’s Chapter 11 plan and will affect creditor recoveries across various classes. The payout ranges from 54% to 120%, determined by November 2022 asset prices. FTX Recovery Trust oversees this process under the leadership of John J. Ray III, who emphasizes a coordinated effort to manage and distribute assets effectively.