Analysis

FTX's $24B Tax Bill Could Wipe Out Any Creditor Recovery

By Alex Wittenberg · December 15, 2023, 8:59 PM EST

A process intended to resolve a $24 billion dispute in FTX Trading Ltd.'s bankruptcy case threatens to render moot the fallen crypto company's plan to repay millions of customers who lost...

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Bankruptcy Scorecard

Summary

Cryptocurrency exchange FTX filed for Chapter 11 on Nov. 11, 2022, after a rapid collapse in value.

Case Number

1:22-bk-11068

Judge

John Dorsey

Venue

U.S. Bankruptcy Court for the District of Delaware

Capital Structure

Total Liabilities:

Total liabilities are still to be determined, as a full plan has yet to be filed and FTX's tax liability is still being resolved. The IRS has filed a claim for $8 billion.

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Documents

Related Sections

Case Information

Case Title

FTX Trading Ltd.

Case Number

1:22-bk-11068

Court

Delaware

Nature of Suit

Date Filed

November 11, 2022

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