FTX management aims to extend the timeline for addressing over 90 objections to a proposed $470 million payment freeze, significantly impacting creditors from restricted jurisdictions, especially Chinese residents.
FTX's management has filed for a court extension in Delaware to respond to over 90 objections regarding a proposed $470 million freeze on repayments to creditors from 49 restricted jurisdictions. The motion highlights that Chinese creditors are the most affected group, representing 82% of the claims. A hearing is set for Tuesday to discuss the contentious motion.