Why is my claim status Disputed?
Any Claim that is not “Allowed” (as defined in Section 2.1.8 of the Confirmed Second Amended Joint Chapter 11 Plan [D.I. 26404, Exhibit A] (the “Plan”)) and is not subject to a valid and timely Bahamas Opt-In Election remains a “Disputed Claim” (as defined in the Plan). A Claim may be Disputed due to, among other reasons, the following:
- A proof of claim was filed is still under review and has not yet been reconciled;
- Your jurisdiction is still under review and/or is currently not eligible for distributions;
- You received partial distributions from the FTX Australia proceedings and are still under review to reconcile the remaining amount of your claim.
The FTX Recovery Trust is in the process of reconciling all Claims. Certain Disputed Claims may later become Allowed and eligible to receive a Distribution.
I have an existing account at one of the Distribution Service Providers but my jurisdiction on the FTX Customer Portal says it is not available for distributions. Why?
Please visit the General Information on Distribution Service Providers page to get more information.
How is Post-petition Interest (“PPI”) for my Convenience Class Claim calculated?
PPI for Allowed Customer Convenience Class Claims is calculated as "interest accrued at the Consensus Rate on Allowed Convenience Claims from the Petition Date through the Initial Distribution Date" per Article 4.2.1(d) for Dotcom Convenience Claims and 4.2.2(c) for U.S. Convenience Claims in the Order Confirming The Second Amended Joint Chapter 11 Plan Exhibit A filed by the Debtors on October 08, 2024 [Docket ID 26404].
I’m an FTX EU customer. Why did my balance change on Step 4?
As previously communicated in an email to you under the subject line “Customer Claims
Notice for FTX EU LTD”, it is possible for a customer of FTX EU Ltd (“FTX EU”) to have claims under both (i) the Plan; and (ii) the process for return of customer funds to be conducted by FTX EU under applicable Cyprus law (“FTX EU Process”).
Also as previously announced, FTX had entered into an agreement to sell FTX EU to a third-party purchaser. Any fiat balance amounts due by FTX EU to its former customers will be determined solely by FTX EU following completion of such sale of FTX EU. The FTX Recovery Trust will not be responsible for the repayment of any fiat balance amounts owed by FTX EU to its former customers and expressly disclaims any responsibility for such repayment by FTX EU. If you were an FTX EU customer and believe you had pending withdrawals of cryptocurrency from your FTX EU account on November 11, 2022, then you should have filed a claim in FTX’s U.S. bankruptcy proceedings on account of such pending withdrawals. If you did file a claim in FTX’s U.S. bankruptcy proceedings on account of such pending withdrawals, you may be eligible to receive distributions from the FTX Recovery Trust pursuant to the Plan. For such claims, please complete the claim procedure by selecting ftx.com as your platform provider on the FTX Customer Portal (https://claims.ftx.com).
In light of the sale of FTX EU, the recently launched Distribution Dashboard on the FTX Customer Portal (https://claims.ftx.com) under Step 9 only contains claims under the Plan. Step 4 no longer contains any FTX EU claims, and your Step 4 Balance will match the Step 9 Claim Amount. For any questions regarding your Plan distribution, please reach out to support@ftx.com.
What are the cut-off dates for the Next Distribution (May 30th) and who is included?
Distributions will only be made to “Allowed” (as defined by the Plan) claims that have satisfied all pre-distribution-requirements by the cut-off dates described below.
In order to be recognized as a holder of an Allowed Claim as of the next distribution record date (April 11, 2025), a holder must meet the requirements under section 2.1.8 of the Plan. This includes the original holder of such claim satisfying the KYC verification requirements by April 11, 2025.
A holder must also submit a completed valid tax form (step 7), select and successfully onboard with a distribution service provider (step 8) and pass sanctions screening by the Record Date (April 11, 2025). Failure to complete these steps by the Record Date will result in a holder not receiving their distribution on May 30th. Pursuant to section 7.8 of the confirmed Plan, holders of Allowed Claims may forfeit their right to distributions if they do not select and successfully onboard with a distribution service provider (step 8) within six months of the next distribution record date.
In addition, pursuant to section 7.14 of the confirmed Plan, holders of Allowed Claims may receive a request to submit a completed valid tax form (step 7) and will be required to do so within the timeframe provided in section 7.14 of the Plan or forfeit their distribution.
Why I am unable to access Step 9 (Distribution Dashboard) on the FTX Customer Portal?
If your claim was traded or you elected into the Bahamas process, you will not be able to access Step 9.