A US bankruptcy judge has given his approval to FTX's bankruptcy plan, officially closing the proceedings following the platform's collapse two years ago due to allegations of fraudulent activity.
During a hearing on Monday, Judge John Dorsey of the US Bankruptcy Court for the District of Delaware approved the plan, clearing the way for creditors to receive their funds.
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The plan provides that 98% of creditors will receive in cash a minimum of 118% of the valuation of their claims.
Judge Dorsey expressed his satisfaction with the case, stating that it is an excellent example of how to manage a complex Chapter 11 bankruptcy.
Ninety-four percent of creditors in the "dotcom customer entitlement claims" group voted in favor of the reorganization plan, representing $6.83 billion in claims.