FTX Owes Its Largest Creditor $226M; Prime 50 Owed Complete of About $3.1B

FTX’s largest collectors have claims starting from lots of of tens of millions to tens of tens of millions of {dollars}, in keeping with a just lately filed courtroom doc.

This doc exhibits that of FTX’s estimated 1 million collectors, the biggest single declare is for $226 million and the second is for $203 million. The identities of those collectors usually are not named, however collectively they’re owed roughly $3.1 billion.

“The Prime 50 Record is predicated on the Debtors’ at the moment out there creditor info, together with buyer info that was capable of be considered however is just not in any other case accessible presently,” the doc, ready by chapter attorneys reads. “The Debtors’ investigation continues relating to the quantities listed, together with funds which will have been made however usually are not but mirrored on the Debtors’ books and data. The Debtors are additionally working to acquire full entry to buyer information.”

FTX has engaged Sullivan & Cromwell in addition to Landis Rath & Cobb as chapter attorneys.

Sullivan & Cromwell is understood for its chapter work on Eastman Kodak and Nortel Networks. The agency was additionally engaged as counsel for FTX on the acquisition of Voyager Digital’s belongings when it declared chapter earlier this yr, however has since eliminated promotional supplies from its website promoting a relationship with FTX.