Paul Hastings Advised FTX Unsecured Creditors to Confirmed Reorganization Plan
Paul Hastings LLP advised the Official Committee of Unsecured Creditors of FTX and its 100+ affiliates to a confirmed Plan of Reorganization in the United States Bankruptcy Court for the District of Delaware.
Under the terms of the Plan and watershed Plan Settlements, 98% of the creditors of FTX by number will receive approximately 119% of the amount of their allowed claims within 60 days after the effective date of the Plan, with all other unsecured creditors and customers set to recover between 119% and 143% of their allowed claims.
Partners Kris Hansen, Ken Pasquale, Erez Gilad, and Gabe Sasson, and Of Counsel Isaac Sasson led the Financial Restructuring team, which included, among others, associates Jack Iaffaldano and Leonie Koch. Partners Chris Daniel and Eric Sibbitt led the Fintech team, and partners Frank Merola and Brian Kelly led the Corporate team.
More details on the transaction can be found here.
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