"The Block" reports: FTX plans to exclude debt allocation for "restricted areas" such as China, and Chinese creditor representatives have submitted objections.
A Chinese FTX creditor representing more than 300 Chinese users has formally submitted an objection to the U.S. Bankruptcy Court in Delaware, opposing a recent motion by FTX that could exclude creditors from certain countries from distribution eligibility.
According to previous documents, The Block calculates that FTX is reviewing approximately $800 million in claims, distributed across 49 jurisdictions that may be classified as "restricted areas," of which China accounts for as much as 82%.
Dissenting party: Chinese creditors "have fully complied, yet are unfairly excluded"
The objection was submitted by creditor Weiwei Ji, who is also a representative of more than 300 Chinese creditors. Although Ji pays taxes in Singapore, due to holding a Chinese passport, F