FTX debtors get green light for customer bar date of September 29

Cryptocurrency exchange FTX Trading and its affiliated debtors said Wednesday that the U.S. Bankruptcy Court has set a customer bar date for September 29, 2023, at 4:00 p.m. ET. John J. Ray III, who took control of FTX immediately after it filed for bankruptcy protection late last year, praised the customer bar date approval, calling it "an important milestone in the Chapter 11 cases." To "maximize recovery for our creditors," the FTX debtors are finalizing an online claims portal, which is expected to launch in the coming days. A customer bar date is the deadline to file a proof of claim against a debtor in bankruptcy. When the claims portal is live, FTX debtors will instruct customers over the coming weeks via email on how to submit proofs of claims. The news comes as FTX management continued to make progress in securing assets to repay creditors, having recovered about $7B in liquid assets so far. More on FTX FTX already faces $200M in bankruptcy fees FTX's Sam Bankman-Fried urges U.S. judge to dismiss most criminal charges FTT Token rockets 100% as crypto exchange FTX considers relaunch