FTX Express Pty Ltd and FTX Australia Pty Ltd - Case Update

Administrators John Mouawad and Scott Langdon of KordaMentha have advised that they expect FTX customers with a pending withdrawal of AUD at the time of appointment to be repaid in full following the Supreme Court of Victoria’s decision on the matter.

Not having received a DOCA proposal, the administrators are recommending that FTX be wound up to allow for an efficient determination of employee, customer and general unsecured claims, followed by distributions and the orderly wind down of FTX’s affairs.

The second meeting of creditors is scheduled for 14 March.

Read the administrators’ latest report.