FTX’s revised reorganization plan will be filed with bankruptcy court in mid-December

On December 7th, FTX Unsecured Creditors Official Committee disclosed a letter dated December 4th to FTX 2.0 Customer Special Committee. The Official Committee believes that the substantive terms of the proposed restructuring plan have achieved an appropriate balance between the competing interests of stakeholders and are beneficial to all unsecured creditors. The revised restructuring plan and disclosure statement will be submitted to the bankruptcy court in mid-December to provide more detailed information.

The Official Committee will continue to evaluate reasonable alternative proposals that may improve the proposed plan terms. Processes for potential acquisitions, capital restructuring, or other transactions are ongoing. At the appropriate time, any such transactions will be submitted to the court for approval in a motion to sell, which will provide a description of the proposed transaction.

The letter also states that although the Official Committee is currently bound by confidentiality obligations and cannot disclose details, many of the concepts raised in the letter, including those involving equity tokens related to debt recovery, are concepts that the Official Committee and potential transaction parties have already considered.

The Official Committee welcomes the opportunity to continue working with the FTX 2.0 Customer Special Committee in the coming months to complete these bankruptcy cases together.