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FTX Dockets

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Date
Docket NameDocket Name
Docket  No.
Docket NameDocket Name
Details
Docket SummaryDocket Summary
September 25, 2024
September 25, 2024
25683
FTX reaches global settlement with multidistrict litigation plaintiffs
FTX reaches a global settlement with the multi-district litigants (“MDLs”), resolving disputes across several courts. The MDL plaintiffs agree to stop trying to divert estate assets to the Florida cases, coordinate information sharing, and support the FTX reorganization plan. The settlement also identifies which claims the MDL plaintiffs can pursue and grants mutual releases.
September 25, 2024
September 25, 2024
25679
FTX Examiner files Phase II Report
FTX Examiner Robert Cleary filed his Phase II Report investigating the Sullivan and Cromwell representation of SBF in the purchase of the shares in Robinhood Markets, Inc., claims resulting from the LedgerX transaction, and balance sheet shortfalls in FTX.US assets. The examiner concludes S&C had not conflict of interest or knowledge of misconduct, the LedgerX claims would likely not be viable, and lack of financial controls at FTX.US made detecting balance sheet deficiencies difficult.
September 20, 2024
September 20, 2024
25321
FTX files monthly operating repors for August 2024
FTX ended August with over $12.1B in cash. Although the amount of cash interest earned per month on estate assets is not clear, it is likely the estate is generating $40-$50M of interest per month. Crypto liquidations significantly slowed in August with only $15.1M of crypto sold. No cash on major asset sales were collected.
September 19, 2024
September 19, 2024
25287
Motion to settle certain state government claims totaling $1.8B
On September 19, 2024 the FTX estate filed a stipulation with several state government entities (Texas, New Jersey, Tennessee, Mississippi, Wisconsin) which resulted in a full and final satisfaction of their claim, without reserving funds or further litigation, provided conditions are met. The conditions include full and final satisfaction of allowed non-governmental claims in Class 6A, and more senior claims, plus interest. This resolves approximately $1.8B of unsecured claims.
August 21, 2024
August 21, 2024
23455
FTX files July 2024 monthly operating reports
On 8/21/2024 the Debtors filed their July monthly operating reports. Cumulative cash held by the Debtors exceeds $11.9B and over $1B of cryptocurrency remains (at petition date values), which we estimate has a rough market value of $2.5B. During July $28.8M was collected from the sale of FTX Japan and $230M from the liquidation of cryptocurrency pursuant to their sale arrangement with Galaxy.
August 2, 2024
August 2, 2024
22163
FTX plan supplement filed
On August 2, 2024 the Debtors filed the Plan Supplement. The exhibits of the supplement detail various additional aspects of the plan, including, a draft Plan Administration Agreement, a draft Liquidating Trust Agreement, a list of Wind Down Board Members, a list of Advisory Committee Members, a list of excluded customer preference actions, and a wind down budget.
August 2, 2024
August 2, 2024
22165
FTX files first amended plan
Blacklines comparing the original plan and the first amended plan are available at docket #22166. The plan adds a definition for "Contract Rate". This clarifies that claims will acrues interest at the lower of the "Conensus Rate" and the "Contract Rate".
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