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FTX files for delay while creditors freeze the amount of $ 470 million


Estate of Cryptocurrency Exchang FTX seeks to delay in the Dilayer Court as it works to respond to more than 90 objections that challenge the proposed stoppage to pay in some “foreign judicial states”, ” According to To the court document reviewed by Cointelegraph.

The “vacation suggestion” would give FTX more time to submit its case to stop paying to creditors in the so -called restricted judicial states. The document was presented on Sunday, with a hearing scheduled for Tuesday to address the original proposal that sparked the legal dispute.

“Given the large size of the objections that have been received even and after the deadline for the objection, the FTX Recovery Trust requires an additional time to formulate and end the approval of the response.”

FTX Estate “Motion for Leam”. Source: Kroll

The original Hawza movement has sought to stop paying to countries with mysterious or restricted encryption laws. By starting the payment of the residents of the aforementioned countries, Al -Hawza argued that it may “lead to fines and penalties, including the personal responsibility of managers and officials, and/or criminal penalties until prison.”

The step affects Creditors in 49 countriesWith claims totaling 470 million dollars. The Chinese population includes the largest group, representing 82 % of claims in the so -called registered countries, or $ 380 million.

Law, Delaware, FTX
List of possible potential judicial authorities in the FTX court proposal on July 2, 2025. Source. Crul

Related to: FTX creditors talk about plans, lessons learned with the start of payment

Creditors respond to FTX

FTX ESTATE faced criticism from some creditors for its efforts to prevent payment. Among them Weiwei Ji, who says they are Hundreds of Chinese creditors represent the battle.

“Since this morning, I haven’t taken a single break after seeing the FTX’s omnibus response to our objections,” G He said In x Monday.

Member of the encryption community named “Mr. Perble” books X is that the situation is “worse than they think”, adding, “The process, if approved by the Owens judge, is designed to make these claims may reach $ 0. It may avoid selling * the problem, but this is not a guarantee.”

According to FTX Sunil Kavuri, there are $ 1.4 billion in FTX claims It is still suspended a kind of decision.

FTX ESTATE started paying the stock exchange creditors in February, more than two years after the bankruptcy of November 2022.

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