FTX Says Creditors Support Reorganization Plan With 95% Vote

FTX and its affiliated debtors said in an announcement that its revised plan of reorganization filed with the U.S. Bankruptcy Court for the District of Delaware received majority support from all classes of creditors eligible to vote, including the customer classes of FTX US and FTX Dotcom. citing an unofficial vote report, FTX said that more than 95 percent of creditors who had submitted ballots were in favor of the plan. That represents 99 percent of the value of claims voted, the company said. FTX also added that more than two-thirds of the petitioners participated in the debtor's petition process, based on the value of the votes cast. ftx said that in light of these results, the plan is likely to meet the acceptance thresholds under the U.S. Bankruptcy Code. The company also said it will submit the final vote results to the bankruptcy court prior to the Oct. 7 confirmation hearing.