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FTX to Distribute More Than $5B in Second Distribution on May 30; Projected Distributions Range From 54% to 120% 

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Relevant Document:
Press Release

The FTX Group debtors and the FTX Recovery Trust announced in a press release today that they will distribute more than $5 billion on May 30 to certain holders of allowed convenience and nonconvenience class claims that have completed the pre-distribution requirements. The release states that subsequent record and payment dates will be “announced in due course.”

According to the press release, holders of allowed claims in classes 5A through 7 will receive distributions ranging from 54% to 120% in accordance with the plan waterfall and as set forth below:
 

  • Class 5A Dotcom customer entitlement claims will receive an approximate 72% distribution;
     
  • Class 5B U.S. customer entitlement claims will receive an approximate 54% distribution;
     
  • Class 6A general unsecured claims will receive an approximate 61% distribution;
     
  • Class 6B digital asset plan claims will receive an approximate 61% distribution; and
     
  • Class 7 convenience claims will receive an approximate 120% distribution.
     

Eligible creditors should expect to receive distributions within one-to-three business days after May 30, according to the release.

FTX first announced the May 30 distribution in a Feb. 18 press release.

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