FTX drops ‘restricted countries’ motion but warns it may refile
The FTX Recovery Trust has dropped a motion to limit payouts to creditors in countries like China, which holds about $380 million in claims.
The bankruptcy estate of the defunct crypto exchange FTX has abandoned the motion seeking to limit creditor distributions to “potentially restricted foreign jurisdictions.”
The FTX Recovery Trust on Monday filed a notice withdrawing its motion for entry of an order in support of the confirmed plan authorizing it to implement restricted jurisdiction procedures in potentially restricted foreign jurisdictions like China.
“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motion and provide notice in accordance with the applicable rules,” the notice states, adding that the motion has been withdrawn without prejudice.
