FTX Debtors and Bahamian Subsidiary in Simultaneous Bankruptcy Proceedings Across Jurisdictions, Sale of Bahamian Real Estate Possible

The debtor of FTX, a cryptocurrency exchange that filed for bankruptcy protection in the United States in November last year, stated on Tuesday that they have reached a global settlement with their Bahamian subsidiary, FTX Digital Markets. Both parties have agreed to work together to maximize compensation and coordinate claims, ensuring that customers receive essentially the same compensation regardless of where they file their claims. The disposal of Bahamian properties is the biggest highlight, as it is believed to return a significant amount of funds to the creditors.