FTX extends deadline for creditors to submit claims to late July or early August

On May 15, cryptocurrency exchange FTX sent an email to its customers announcing an extension of the deadline for submitting claims. The original deadline for filing claims on May 15 has been extended to late July or early August (the exact date has not yet been determined), coinciding with the deadline for creditors to vote to approve a Chapter 11 reorganization plan in the U.S. proceedings. This will provide FTX’s clients an additional 10 to 12 weeks to submit proof of their debt. In addition, FTX clients can choose to participate in litigation in the Bahamas or the United States, or in both places at the same time. The company also revealed that in June 2024, users will receive information about the consequences of choosing to participate in one or the other of the lawsuits and will have 6 to 8 weeks to make a final decision.