FTX seeks to delay response to creditor objections, $470 million overseas claims may be frozen.

[FTX Seeks Extension to Respond to Creditors' Objections, $470 Million Overseas Claims May Be Frozen] According to Cointelegraph, the FTX bankruptcy management team is seeking a delay from the Delaware court to respond to over 90 objections to its proposal to suspend repayments in "restricted foreign jurisdictions." This proposal affects creditors from 49 countries and involves a total of approximately $470 million in claims, with Chinese creditors making up the largest share at 82% (around $380 million). The FTX team stated that repaying creditors in these countries could trigger fines, personal liability, and even criminal penalties. However, several creditors strongly oppose this, believing that such a move could lead to their claims being worth zero. According to FTX creditor Sunil Kavuri, there are still approximately $1.4 billion in FTX claims awaiting resolution.