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FTX Restores Trust Withdrawal Motion for "Restricted Jurisdiction Proceedings," Creditors Achieve Interim Victory
According to Mars Finance, FTX has formally withdrawn its previously submitted motion to the Delaware Bankruptcy Court documents, which was originally planned to implement “restricted procedures” in certain foreign jurisdictions to advance the execution of the restructuring plan. The motion was unconditionally withdrawn after the court expressed objections during the hearing on October 23, marking a phased victory for the affected creditors in their pursuit of rights. If there are plans to restart this procedure in the future, a new motion must be submitted and the notification process must be followed.