FTX Debtors Launch Online Claims Portal for Customers

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Jul 13, 2023, 17:05 ET

Customer Claims Must Be Filed by September 29, 2023 Bar Date

FTX Debtors Encourage Customers to Submit Claims Electronically at https://claims.ftx.com; Claims by Mail will Face Processing Delays

WILMINGTON, Del., July 13, 2023 /PRNewswire/ -- FTX Trading Ltd. (d.b.a. FTX.com), and its affiliated debtors (together, the "FTX Debtors"), today announced the launch of the online customer claims portal for customers. The portal can be accessed at https://claims.ftx.com.

The portal will allow customers to login using their FTX credentials to view historical transaction information and account balances as of the FTX Debtors' filing date of November 11, 2022.¹ Customers who agree with the amount or quantity stated, the FTX Exchange against whom the customer claim is asserted and the type or nature of the customer claim as listed will not need to take further action beyond submission of Know Your Customer ("KYC") information. Customers who disagree with any component of their customer claim, who want to assert a customer claim arising out of or related to any other investment or trading activity, or who hold an account that shows no net positive balances will have the opportunity to submit an electronic proof of claim.

As previously announced, the U.S. Bankruptcy Court set the "Customer Bar Date" for September 29, 2023 at 4:00 p.m. Eastern Time. The Customer Bar Date is the deadline for submitting Customer Claims. There is no priority given based on the timing of filing claims. Claims need only be filed by the deadline.

The FTX Debtors have begun noticing all known customers on a rolling basis over the coming weeks via email and, for those for whom the FTX Debtors only have a physical mailing address, via mail. Notices will include instructions for how customers can submit proofs of claims, including accessing the customer claims portal. The FTX Debtors encourage customers to submit claims via the claims portal and note that there may be a processing delay for any claims that are submitted by mail.

Claims Portal and Proof of Claim Submission Details

There is a three-step proof of claim submission process for customers:

First, after verification, customers are requested to provide KYC credentials.
Second, the portal will direct customers to a separate page containing all historical transaction information and account balances.
Third, the portal will then integrate and direct customers to an electronic proof of claim portal, which will list the details of the claims of each customer with net positive balances as of the petition date.

Instructions are available in multiple languages, including, among others, Spanish, Chinese, Japanese, German and Russian.

Additional Information

U.S. Bankruptcy Court filings and other documents related to the court proceedings, including information on how to submit a claim and Frequently Asked Questions for customers, are available at https://cases.ra.kroll.com/FTX/.

Advisors

The FTX Debtors are represented by Sullivan & Cromwell LLP as legal counsel and are assisted by Alvarez & Marsal North America, LLC as financial advisor, Perella Weinberg Partners LP as investment banker, Quinn Emanuel Urquhart & Sullivan, LLP as special counsel and Landis Rath & Cobb LLP as Delaware counsel. The UCC is represented by Paul Hastings LLP as legal counsel, FTI Consulting as financial advisor, Jefferies LLC as investment banker and Young Conaway Stargatt & Taylor LLP as Delaware counsel.

¹ In the case of Debtor West Realm Shires Inc., the filing date is November 14, 2022.

SOURCE FTX