FTX Unveils Customer Claims Portal for Chapter 11 Bankruptcy, Launch Postponed but Imminent

FTX Unveils Customer Claims Portal for Chapter 11 Bankruptcy, Launch Postponed but Imminent

FTX, the renowned trading platform, has made a significant announcement regarding the impending launch of its customer claims portal designed specifically for individuals affected by the company’s Chapter 11 bankruptcy. Initially slated for release on July 3, 2023, the portal’s launch has been subject to slight delays due to revisions in the submission timeline. Nevertheless, FTX has reassured its clientele that the portal will be operational within the next few weeks. To ensure seamless communication, FTX will promptly notify its clients via email and through updates on its official Twitter account.

In the wake of financial difficulties, FTX Trading Ltd. and its affiliated debtors sought Chapter 11 bankruptcy protection by filing respective petitions on November 11 and November 14, 2022, in the United States Bankruptcy Court for the District of Delaware. Recognizing the importance of facilitating the claims process, the FTX Debtors took decisive action by filing the Customer Bar Date Motion on June 14, 2023. This motion sought to establish a deadline for customers to submit proofs of claim while concurrently outlining the approved procedures for doing so. Subsequently, on June 28, 2023, the Court granted approval for the motion, solidifying its significance.

The Debtors’ Customer Claims Portal has been meticulously developed to empower users in submitting their claims within the framework of the ongoing bankruptcy proceedings. Functioning as a comprehensive platform, the portal enables users to file their proofs of claim efficiently and access pertinent information related to the bankruptcy proceedings. Clients eagerly anticipating the portal’s launch need not fret, as they will receive timely notifications through the official FTX Twitter account, in addition to email updates.

In summary, FTX is on the verge of launching its highly anticipated customer claims portal, allowing users affected by the company’s Chapter 11 bankruptcy to conveniently file their claims. While the initial launch date of July 3, 2023, had to be adjusted due to revisions in the submission timeline, FTX assures its clients that the portal will be available in the near future. As soon as it goes live, clients will receive prompt notifications via email and the official FTX Twitter account. This dedicated platform will serve as a central hub for users to submit their proofs of claim and access essential information pertinent to the bankruptcy proceedings.