PANews reported on November 4th that, according to documents from the Delaware Bankruptcy Court, the FTX Restoration Trust formally withdrew its previously filed motion on November 3rd to proceed with the restructuring plan through "restricted proceedings" in certain foreign jurisdictions. The motion was unconditionally withdrawn after the court expressed objection at a hearing on October 23rd, marking a significant victory for affected creditors in their fight for their rights. If the process is to be restarted in the future, a new motion must be filed and notification procedures fulfilled. PANews reported on November 4th that, according to documents from the Delaware Bankruptcy Court, the FTX Restoration Trust formally withdrew its previously filed motion on November 3rd to proceed with the restructuring plan through "restricted proceedings" in certain foreign jurisdictions. The motion was unconditionally withdrawn after the court expressed objection at a hearing on October 23rd, marking a significant victory for affected creditors in their fight for their rights. If the process is to be restarted in the future, a new motion must be filed and notification procedures fulfilled.
FTX's motion to reinstate the trust and withdraw "restricted jurisdiction proceedings" marks a partial victory for creditors.
2025/11/04 10:19
PANews reported on November 4th that, according to documents from the Delaware Bankruptcy Court, the FTX Restoration Trust formally withdrew its previously filed motion on November 3rd to proceed with the restructuring plan through "restricted proceedings" in certain foreign jurisdictions. The motion was unconditionally withdrawn after the court expressed objection at a hearing on October 23rd, marking a significant victory for affected creditors in their fight for their rights. If the process is to be restarted in the future, a new motion must be filed and notification procedures fulfilled.
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