Customers who have sold their claims will need to complete certain steps in order to ensure that the transfer is properly reflected on the claims register maintained by Kroll.
A Notice of Transfer of Claim needs to be filed on the public Chapter 11 docket. If the Notice of Transfer of Claim is filed in a redacted form, Kroll will be requesting the unredacted version. Kroll needs all unredacted information to validate the claim transfer. If the claim transfer is validated by Kroll, notice will be sent to both the transferee and transferor (below is an example of this notice). This notice starts a 21-day clock for either party to dispute the claim transfer. If the claim transfer is not validated and is rejected by Kroll, notice will be sent to the transferee.
Customers who have sold their claims to a 3rd party
If you have recently sold your claim to a 3rd party or are the buyer of a claim and are now looking into making changes to your account, please take note of the following steps to ensure a smooth process.
- Contact from the Original Owner:
To begin the process of making changes to the account, the original owner of the account must create a ticket by reaching out to support@ftx.com. Visit this page to find a guide on Email Change Requests Related to Sold Claims.
- Notice of Transfer of Claim:
We will need both the docket stamped copy of the redacted and unredacted Notice of Transfer of Claim (NOT). The docket stamped transfer verifies that the NOT was filed with the bankruptcy court.
How to obtain a Notice of Transfer
The original owner of the account, and the buyer of the claim must file a Notice of Transfer of Claim on the docket for these Chapter 11 cases. For more information regarding the Notice of Transfer of Claim, please contact ftxinfo@ra.kroll.com.
Why is this important?
Ensuring that the original owner initiates the account changes adds an extra layer of security, preventing unauthorized access.
Assistance with Notice of Transfer
If you encounter any issues with filing the Notice of Transfer (“NOT”), please contact ftxinfo@ra.kroll.com.
Forfeiture of Unclaimed Distributions and Impacts on Claims Buyers
Following every record date, original holders of Allowed Claims who have not completed their pre-distribution requirements (tax and distribution service provider onboarding) will be provided two notices (elapsing 90 days in total) requesting them to complete their pre-distribution requirements. To the extent the original holder takes no action, the distribution associated with that record date will be forfeited.
As an example:
Subsequent to the August 15, 2025 record date, notices will be sent to all original holders to complete outstanding pre-distribution requirements. If noticing begins on September 1, 2025, the Holder must complete the pre-distribution requirements by November 30, 2025; otherwise, they will forfeit the rights to receive the September 30, 2025 distribution on a later date.
Individuals or entities who purchase claims should confirm with original holders that any prior distributions have not been forfeited as part of the standard diligence process when determining to purchase a claim and associated value.