FTX drops ‘restricted countries’ motion but warns it may refile
The FTX Recovery Trust dropped a motion to limit payouts to creditors in countries including China, which holds about $380 million in claims.
The bankruptcy estate of the now-defunct crypto exchange FTX has dropped its bid to limit payouts to creditors in certain “restricted foreign jurisdictions.”
On Monday, the FTX Recovery Trust filed a notice withdrawing its request to implement special procedures for jurisdictions such as China, which had been flagged as potentially restricted under the confirmed bankruptcy plan.
“If and when the FTX Recovery Trust seeks to renew the relief requested in the Motion, the FTX Recovery Trust shall file a motion and provide notice in accordance with the applicable rules,” the notice states, adding that the motion has been withdrawn without prejudice.
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