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FTX creditor lawyer: The goal is to allow users to get their locked funds back in July next year

Lawyers representing FTX creditors are working to push the bankruptcy case forward with the goal of returning 90% of funds to users. The lawyers must obtain the support of 60 individuals and entities in the creditor group and 75% of investors who register as members in the coming weeks before December 1st. Eversheds Sutherland lawyer Sarah Paul said that even if the settlement plan is approved by creditors, approval from the bankruptcy court is still required. The ultimate goal is to emerge from bankruptcy by around July 2024, at which time users will be able to retrieve funds that have been locked since last year.

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